Looking for a small 20% Swing Trade on GGB as the company moves to retest the $5.34 Price Levels over the next few trading sessions. If we're able to break above those levels and find support above the $5.34, then we will be moving to retest the $8.32 Levels of Resistance which could potentially provide an additional 60% on the trade if the stock works in our favor.
From a Fundamental/Long-Term Perspective, the company is showing great recover QoQ from seeing devastating performance YoY, encouraging the fact that the company will move to go net positive by the end of 2021 to Mid-2022, showing 59.82% EPS Growth and 43.91% Net Profit Margin Growth QoQ. #Breakout #Stocks #Trading #Investing #Alerts #StockMarket #Daily #News #Today