GERDAU SA ADS
(GGB-NYSE):
Technical Viewpoint: From a low
of $34.79 on Apr 4, 2008 prices
rallied, reaching a
high of $39.07
on Apr 23, 2008. A
decline saw prices pull back, reaching a
low of
$36.24 on Apr 29, 2008.
Another rally saw prices penetrate
resistance, closing 5/2/08
at $41.79. Technicals: MACD Index (MACD): A Buy Alert!
was given on May 2, 2008 when the solid line crossed the dotted line to the upside.
Support: Remains at $37.00. Resistance: Is at None at current levels.
Point & Figure: Reversed to the upside on Apr 2, 2008. A P&F upside
reversal takes place at $39.00. Summary: Technical indicators have turned bullish. BUY! GERDAU SA ADS
(GGB-NYSE) @ $42.50 Stop: Use a protective stop of $40.50.
GERDAU SA ADS is currently trading @ $41.79 plus $2.11 on May 2, 2008. Price Objective:
$53.50. Risk/Reward: $2.00 VS. $11.00. Today's Risk Reward Ratio: 6:1
|
Three Part
Technical Chart
Daily Candle Stick Chart
Point & Figure Chart
Technical Study
View full size chart
Price Objective:
$53.50
Risk/Reward:
$2.00 VS. $11.00
Risk/Reward Ratio:
6:1
|