Bearish Speculation for Gerdau S.A. (GGB)

Posted on 07/06/2012 by Edward Connelly

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NEW YORK (AVAFIN) -- On Friday shares of Gerdau S.A. closed below the 200-day moving average of $8.80. This development is relevant given that it may be viewed as a sign of weakness from a technical perspective. The relationship between the stock price and it's moving average is important as it will set the stage for how investors perceive the trend. As long as the stock movement maintains it's current trajectory, investors will view it as a sign of bearishness.

Traders rely on analysis of moving average concepts in order to make better investment decisions. However, it is important to note that moving averages should be used in combination with other indicators in order to properly confirm trends and price movement. For instance, when assessing the recent stock price of $8.71 per share, the current support and resistance levels are $8.55 and $8.85 respectively.

The mean analyst rating for the stock is hold. Performance indicators show that the stock has gained 13.35% within the last week.

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