GERDAU SA -SPON ADR (GGB) Stock Technical Analysis
USA - NYSE:GGB - US3737371050 - ADR
3.23 USD
-0.01 (-0.31%)
3.24 USD
+0.01 (+0.31%)
Overall GGB gets a technical rating of 8 out of 10. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, GGB is only an average performer.
GGB is one of the lesser performing stocks in the Metals & Mining industry. 76% of 156 stocks in the same industry do better.
The long and short term trends are both positive. This is looking good!
GGB has an average volume of 13970300 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the performance of all stocks over the past year, GGB turns out to be only a medium performer in the overall market: it outperformed 63% of all stocks.
GGB is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so GGB is lagging the market.
In the last month GGB has a been trading in the 3.03 - 3.30 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Volume is considerably higher in the last couple of days.
Besides having an excellent technical rating, GGB also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 3.28. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 3.16, a Stop Loss order could be placed below this zone.
More info and screens
2.81
3.31
When analyzing the support we can see 3 important areas.
- A support zone ranging from 3.08 to 3.16. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @3.03 from a horizontal line in the daily time frame.
- A support zone ranging from 2.84 to 2.85. This zone is formed by a combination of multiple trend lines in multiple time frames.
We found 1 important resistance area.
- A resistance zone ranging from 3.28 to 3.28. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for GGB is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for GGB is up. |
| ChartMill Relative Strength | 63.78 | NEUTRAL | GGB is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of GGB is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of GGB is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of GGB is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 56.27 | NEUTRAL | The RSI value for GGB is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | POSITIVE | The MACD value suggests GGB has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 62.67 | NEUTRAL | The Stochastics value for GGB is a neutral value. |
| Average True Range in percent/ATR (20) | 2.68 | MEDIUM VOLATILITY | The ATR as a percentage value for GGB suggests some volalility. |
| Average Directional Index/ADX (14) | 14.25 | NEGATIVE | The low ADX value for GGB suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 3.29 | 3.09 | 0.20 (6.08%) | 16.45% |
| An entry @3.29. This is a Buy Stop order right above the resistance zone. | An exit @3.09. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 0.20 points, which is 6.08%. | For a 1.00% total portfolio risk, you can invest 16.45% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
3.23
-0.01 (-0.31%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorMaterials
GICS IndustryMetals & Mining
Performance
% Chg-0.31%
1 Week1.25%
2 Weeks4.19%
1 Month2.87%
3 Month13.33%
6 Month27.17%
12 Month0.94%
2 Year-10.69%
3 Year-18.28%
5 Year6.82%
10 Year192.79%
15 Year-68.79%
Volatility
ATR(14)0.09
ATR(20)%2.68%
ATR Inc12.69%
Range Today0.07
ADR(20)0.08
ADR(20)%2.42%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS63.78
Mansfield-0.12
10 Day High3.3
10 Day Low3.1
20 Day High3.3
20 Day Low3.03
52 Week High3.62
52 Week Low2.27
CS1 End3.16
CR1 Start3.28
Volume & EV
DER(3)1.56%
DER(5)2.36%
Volume19.27M
Volume Incr24.09%
Vol(5)22.38M
Vol(50)13.97M