GERDAU SA -SPON ADR (GGB) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:GGB - US3737371050 - ADR
Taking everything into account, GGB scores 10 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, GGB is showing a nice and steady performance.
- GGB is one of the lesser performing stocks in the Metals & Mining industry. 64% of 157 stocks in the same industry do better.
- Both the short term and long term trends are positive. This is a very positive sign.
- Looking at the yearly performance, GGB did better than 89% of all other stocks. We also observe that the gains produced by GGB over the past year are nicely spread over this period.
- GGB is currently making a new 52 week high. This is a strong signal. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
- In the last month GGB has a been trading in the 3.64 - 4.17 range, which is quite wide. It is currently trading near the high of this range.
- GGB has an average volume of 12682400 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Although GGB has an excellent technical rating, it does not present a decent entry opportunity at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation.
More info and screens
3.10
4 important support areas can be observed.
- A support zone ranging from 3.64 to 3.67. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @3.54 from a trend line in the daily time frame.
- Support @3.42 from a horizontal line in the daily time frame.
- Support @3.13 from a horizontal line in the daily time frame.
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 | 89.45 | POSITIVE | GGB has a high relative strength, it outperformed 89.45% 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) | 75.86 | OVERBOUGHT | The high RSI value suggests GGB may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.03 | POSITIVE | The MACD value suggests GGB has a positive trend. |
| Stochastics (14,3) | 95.94 | OVERBOUGHT | The high Stochastics value suggests GGB may be overbought. |
| Average True Range in percent/ATR (20) | 2.17 | MEDIUM VOLATILITY | The ATR as a percentage value for GGB suggests some volalility. |
| Average Directional Index/ADX (14) | 24.51 | NEUTRAL | The ADX value for GGB suggests a possible start of a new trend. |
4.16
+0.09 (+2.21%)
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 10 / 10 to GGB.
Can you provide the trend direction for GERDAU SA -SPON ADR?
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 75.8621. This indicates that the stock is currently overbought.
What is the MACD signal for GERDAU SA -SPON ADR (GGB) stock?
The MACD indicator for GERDAU SA -SPON ADR (GGB) has a value of 0.0296688, indicating a bearish trend.
What is the buy/sell signal for GGB stock?
The buy/sell signal for GERDAU SA -SPON ADR (GGB) is buy as both the short term and long term trends are positive.