GGB Price Prediction Next Week
Analysis and Insights
Technical Analysis:
GGB's stock is currently trading at $3.00, with a bullish technical sentiment consensus. The Relative Strength Index (RSI) is at 51.75, indicating a neutral position without signs of overbuying or overselling. The MACD line is slightly above the signal line, suggesting a weak bullish signal. Stochastic indicators show %K (80.39) above %D (87.87), which is a bullish signal.
News Sentiment and Fundamental Analysis:
Gerdau recently settled an antitrust case, agreeing to pay R$256 million, which may positively impact investor sentiment as it resolves legal uncertainties. The company reported Q3 results with net sales of R$17.38B (+1.8% Y/Y) and adjusted EBITDA of R$3B, showing operational improvement. However, the stock has a YTD decline of 25.33%.
Fibonacci Levels and Support/Resistance:
Fibonacci levels indicate a pivot point at $2.93, with resistance at $3.05 and support at $2.82. The stock is currently trading near the pivot level, suggesting potential upward movement.
Conclusion:
Based on the bullish technical indicators and positive news sentiment, GGB is expected to reach a target price of $3.05 next week. Buy is recommended as the stock shows potential for short-term gains.
GGB Similar Chart Price Prediction
The price of GGB is predicted to go up -8.46%, based on the high correlation periods with DG. The similarity of these two price pattern on the periods is 93.28%.
GGB
DG
Down: -8.46%Similarity: 93.28%
GGB Revenue Forecast
GGB EPS Forecast
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GGB Analyst's Forecast
Caio Greiner
UBS
Hold
2025-03-12
Price Target
n/a
Downside
0%
UBS initiated coverage of Gerdau with a Neutral rating and $3.30 price target. The firm initiated coverage of the Brazilian metals and mining sector, saying the group has a strong correlation to China's economic momentum. China's secular decline of its property sector has translated into decelerating economic activity and also demand for metal, the analyst tells investors in a research note. UBS is cautious on the outlook for the space.
