In the case of Gerdau S.A., the RSI reading has hit 25.0 — by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 52.7, the RSI of Spot Gold is at 12.4, and the RSI of Spot Silver is presently 17.4. A bullish investor could look at GGB's 25.0 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side.
Looking at a chart of one year performance (below), GGB's low point in its 52 week range is $3.425 per share, with $5.1333 as the 52 week high point — that compares with a last trade of $3.59. Gerdau S.A. shares are currently trading up about 0.6% on the day.
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Also see:
Materials Stocks Hedge Funds Are Selling BDMS Insider Buying
CPRX Insider Buying
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
