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Watch for Continued Gains in Shares of Ferroglobe Plc (GSM)

By James Quinn

Ferroglobe Plc (NASDAQ:GSM) traded today at a new 52-week high of $14.46. This new high was reached on below average trading volume as 147,000 shares traded hands, while the average 30-day volume is approximately 526,000 shares.

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.

Ferroglobe Plc share prices have moved between a 52-week high of $14.46 and a 52-week low of $7.67 and are now trading 87% above that low price at $14.32 per share. The 200-day and 50-day moving averages have moved 1.22% lower and 2.28% higher over the past week, respectively.

Ferroglobe Plc has overhead space with shares priced $14.32, or 1.7% below the average consensus analyst price target of $14.56. The stock should find initial support at its 200-day moving average (MA) of $11.02 and further support at its 50-day MA of $9.29.

SmarTrend recommended that subscribers consider buying shares of Ferroglobe Plc on May 22nd, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $10.08. Since that recommendation, shares of Ferroglobe Plc have risen 41.6%. We continue to monitor GSM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows ferroglobe plc

Ticker(s): GSM