GERDAU SA -SPON ADR (GGB) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:GGB - US3737371050 - ADR
Taking everything into account, GGB scores 8 out of 10 in our technical rating. Although GGB is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
Although GGB has an excellent technical rating, the quality of the presented setup is not ideal at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
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2.79
When analyzing the support we can see 4 important areas.
- A support zone ranging from 3.34 to 3.39. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @3.21 from a trend line in the daily time frame.
- Support @3.13 from a horizontal line in the daily time frame.
- A support zone ranging from 2.82 to 2.84. This zone is formed by a combination of multiple trend lines in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 3.60 to 3.66. 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 | 76.84 | POSITIVE | GGB has a high relative strength, it outperformed 76.84% off all stocks 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) | 60.81 | NEUTRAL | The RSI value for GGB is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests GGB has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 66.67 | NEUTRAL | The Stochastics value for GGB is a neutral value. |
| Average True Range in percent/ATR (20) | 2.35 | MEDIUM VOLATILITY | The ATR as a percentage value for GGB suggests some volalility. |
| Average Directional Index/ADX (14) | 20.66 | NEUTRAL | The ADX value for GGB suggests a possible start of a new trend. |
3.6
+0.01 (+0.28%)
GERDAU SA -SPON ADR / GGB FAQ
What is the ChartMill technical rating of GERDAU SA -SPON ADR (GGB) stock?
ChartMill assigns a technical rating of 8 / 10 to GGB.
What is the trend direction for GGB stock?
The current trend direction for GERDAU SA -SPON ADR (GGB) is Bullish.
What is the RSI signal for GERDAU SA -SPON ADR (GGB) stock?
GERDAU SA -SPON ADR (GGB) has an RSI value of 60.8149. This indicates that the stock is currently neutral.
What is the short term momentum for GGB stock?
The short term momentum for GERDAU SA -SPON ADR (GGB) is positive.
What is the support and resistance level for GGB stock?
GERDAU SA -SPON ADR (GGB) has a support level at 3.39 and a resistance level at 3.6. Check the full technical report for our detailed analysis of GGB support and resistance levels.