GERDAU SA -SPON ADR (GGB) Stock Technical Analysis
NYSE:GGB - US3737371050 - ADR
3.07 USD
+0.01 (+0.33%)
3.0799 USD
+0.01 (+0.32%)
Taking everything into account, GGB scores 7 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.
GGB is part of the Metals & Mining industry. There are 155 other stocks in this industry, of which 72% are performing better than GGB.
The long and short term trends are both positive. This is looking good!
In the last month GGB has a been trading in the 2.85 - 3.11 range, which is quite wide. It is currently trading near the high of this range.
GGB has an average volume of 11857600 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 51% 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.
Besides having an excellent technical rating, GGB also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. There is a support zone below the current price at 3.06, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for GGB in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
2.81
3.23
3 important support areas can be observed.
- A support zone ranging from 3.05 to 3.06. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 2.93 to 2.98. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- 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 can see 2 important resistance areas.
- Resistance @3.08 from a horizontal line in the weekly time frame.
- A resistance zone ranging from 3.14 to 3.20. 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 | 51.44 | 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) | DOWN | MIXED | The current price of GGB is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 58.12 | NEUTRAL | The RSI value for GGB is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests GGB has a positive trend. |
| Stochastics (14,3) | 79.59 | NEUTRAL | The Stochastics value for GGB is a neutral value. |
| Average True Range in percent/ATR (20) | 2.67 | MEDIUM VOLATILITY | The ATR as a percentage value for GGB suggests some volalility. |
| Average Directional Index/ADX (14) | 9.85 | 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 |
|---|---|---|---|
| 3.09 | 3.04 | 0.05 (1.62%) | 25.00% |
| An entry @3.09. This is a Buy Stop order right above the resistance zone. | An exit @3.04. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 0.05 points, which is 1.62%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.40%. |
- The distance between exit and entry is rather small compared to the average daily movement of GGB. Please evaluate whether better entry and exit points can be found.
- 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.
3.07
+0.01 (+0.33%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorMaterials
GICS IndustryMetals & Mining
Performance
% Chg0.33%
1 Week5.86%
2 Weeks3.72%
1 Month3.72%
3 Month16.73%
6 Month8.48%
12 Month-5.83%
2 Year-29.29%
3 Year-14.23%
5 Year10.52%
10 Year161.37%
15 Year-71.18%
Volatility
ATR(14)0.08
ATR(20)%2.67%
ATR Inc-21.66%
Range Today0.04
ADR(20)0.07
ADR(20)%2.35%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS51.44
Mansfield-0.69
10 Day High3.11
10 Day Low2.85
20 Day High3.11
20 Day Low2.85
52 Week High3.62
52 Week Low2.27
CS1 End3.06
CR1 Start3.08
Volume & EV
DER(3)1.86%
DER(5)3.54%
Volume6.48M
Volume Incr-11.72%
Vol(5)8.33M
Vol(50)11.86M