The shares of Gerdau S.A. (NYSE:GGB) dropped by -22.52% or -$1.18 from its last recorded high of $5.24 which it attained on March 06 to close at $4.06 per share. Over the past 52 weeks, the shares of Gerdau S.A. has been trading as low as $3.18 before witnessing a massive surge by 27.67% or $0.88. This price movement has led to the GGB stock receiving more attention and has become one to watch out for. It dipped by 0% on Thursday and this got the market worried. The stock’s beta now stands at 2.23 and when compared to its 200-day moving average and its 50-day moving average, GGB price stands -4.81% below and -2.89% below respectively. Its average daily volatility for this week is 3.7% which is less than the 3.8% recorded over the past month.
Gerdau S.A. (GGB) rose 3.05% this week, a trend that has led to both investors and traders taking note of the stock. Over the past one year, the equity price has embarked on a rally that has seen it rise 22.21% and is now up by 10.71% since start of this year. A look at its monthly performance shows that the stock has recorded a -9.78% fall over the past 30 days. Its equity price climbed by 6.01% over the past three months which led to its overall six-month increase to stand at 8.13%.
Experts from research firms are bullish about the near-term performance of Gerdau S.A. with most of them predicting a $5.78 price target on a short-term (12 months) basis. The average price target by the analysts will see a 42.36% rise in the stock and would lead to GGB’s market cap to surge to $9.07B. The stock has been rated an average 1.7, which roughly stands towards the bullish end of the spectrum. Reuters looked into the 3 analysts that track Gerdau S.A. (NYSE:GGB) and find out that 0 of them rated it as a Hold. 3 of the 3 analysts rated it as a Buy or a Strong Buy while 0 advised investors to desist from buying the stock or sell it if they already possess it.
A look at GGB technical analysis shows that its 14-day Relative Strength Index (RSI) is in a neutral zone after reaching 48.44 point. Its trading volume has lost -2532772 shares compared to readings over the past three months as it recently exchanged 11307228 shares. This means there is reduced activity from short-term traders as per session, its average trading volume is 13840000 shares, and this is 0.82 times the normal volume.
The price of Tesla, Inc. (NASDAQ:TSLA) currently stands at $363.06 after it went up by $3.36 or 0.93% and has found a strong support at $353.42 a share. If the TSLA price drops below that critical support, then it would lead to a bearish trend. In the short-term, a dip below the $343.78 mark would also be bad for the stock as it means that the stock would plunge by 5.31% from its current position. However, if the stock price is able to trade above the resistance point around $370.04, then it could likely surge higher to try and break the upward resistance which stands at $377.02 a share. Its average daily volatility over the past one month stands at 3.76%. The stock has plunged by 3.39% from its 52-weeks high of $350.76 which it reached on Aug. 07, 2018. In general, it is 32.63% above its 52-weeks lowest point which stands at $244.59 and this setback was observed on Apr. 02, 2018.
Analysts have predicted a price target for Tesla, Inc. (TSLA) for 1 year and it stands at an average $322.73/share. This means that it would likely increase by -11.11% from its current position. The current price of the stock has been moving between $350.76 and $367.38. Some brokerage firms have a lower target for the stock than the average, with one of them setting a price target as low as $100. On the other hand, one analyst is super bullish about the price, setting a target as high as $530.
The TSLA stock Stochastic Oscillator (%D) is at 78.75%, which means that it is currently neutral. The shares P/S ratio stands at 3.46 which compares to the 1.22 recorded by the industry or the 136.78 by the wider sector. The stock currently has an estimated price-earnings (P/E) multiple of 55.5, which is higher than the 0 multiple of 12-month price-earnings (P/E). The company’s earnings have gone down, with a quarterly decrease rate of -15.2% over the past five years.
Analysts view Tesla, Inc. (NASDAQ:TSLA) as a Sell, with 3 consensus rating. Reuters surveyed 30 analysts that follow TSLA and found that 11 of those analysts rated the stock as a Hold. The remaining 19 were divided, with 9 analyst rating it as a Buy or a Strong Buy while 10 analysts advised investors to desist from buying Tesla, Inc. (TSLA) shares or sell it if they already own it.