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Ferroglobe Plc Looks to Continue to Trade Below its Annual-Low Share Price Today

By Nick Russo

Shares of Ferroglobe Plc (NASDAQ:GSM) traded at a new 52-week low today of $6.42. Approximately 311,000 shares have changed hands today, as compared to an average 30-day volume of 620,000 shares.

Ferroglobe Plc (NASDAQ:GSM) has potential upside of 200.2% based on a current price of $6.44 and analysts' consensus price target of $19.33. The stock should run into initial resistance at its 50-day moving average (MA) of $7.87 and subsequent resistance at its 200-day MA of $11.16.

Ferroglobe Plc share prices have moved between a 52-week high of $17.61 and the current low of $6.42 and are currently at $6.44 per share. The 200-day and 50-day moving averages have moved 1.28% lower and 0.79% lower over the past week, respectively.

Ferroglobe PLC produces metal products. The Company offers silicon-based metal alloys, electrodes, ferrosilicon, and manganese alloys, as well as provides hydroelectric energy. Ferroglobe serves customers worldwide.

SmarTrend recommended that its subscribers protect gains by selling shares of Ferroglobe Plc on June 15th, 2018 by issuing a Downtrend alert when the shares were trading at $9.20. Since that call, shares of Ferroglobe Plc have fallen 28.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows ferroglobe plc

Ticker(s): GSM