Meanwhile, BofA Securities downgraded its Gerdau S.A. ADR [GGB] rating to a Neutral from a a Buy in a research note published recently. A number of analysts have revised their coverage, including UBS’s analysts, who began to cover the stock in mid March with a ‘”a Neutral”‘ rating. BofA Securities also remained covering GGB and has increased its forecast on May 24, 2024 with a “Buy” recommendation from previously “Neutral” rating. JP Morgan revised its rating on April 15, 2024. It rated GGB as “an Overweight” which previously was an “a Neutral”.
Price Performance Review of GGB
On Friday, Gerdau S.A. ADR [NYSE:GGB] saw its stock jump 0.77% to $2.62. Gerdau S.A. ADR shares have fallen nearly -9.03% since the year began. Nevertheless, the stocks have fallen -30.87% over the past one year. While a 52-week high of $4.04 was reached on 02/11/25, a 52-week low of $2.27 was recorded on 04/09/25. SMA at 50 days reached $2.74, while 200 days put it at $3.08.
Levels Of Support And Resistance For GGB Stock
The 24-hour chart illustrates a support level at 2.58, which if violated will result in even more drops to 2.53. On the upside, there is a resistance level at 2.65. A further resistance level may holdings at 2.67. The Relative Strength Index (RSI) on the 14-day chart is 49.03, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.03, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 49.04%. Stochastics %K at 34.60% indicates the stock is a holding.
