• Return to Headlines

SmarTrend Watching for Potential Rebound in Shares of Ferroglobe Plc After 3.75% Loss

By Nick Russo

Ferroglobe Plc (NASDAQ:GSM) traded in a range yesterday that spanned from a low of $7.90 to a high of $8.34. Yesterday, the shares fell 3.7%, which took the trading range below the 3-day low of $8.18 on volume of 647,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Ferroglobe Plc share prices have been bracketed by a low of $7.67 and a high of $17.61 and are now at $7.99, 4% above that low price. The 200-day and 50-day moving averages have moved 0.7% lower and 2.27% lower over the past week, respectively.

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 10.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders ferroglobe plc

Ticker(s): GSM