Down -19.65% in 4 Weeks, Here's Why Gerdau (GGB) Looks Ripe for a Turnaround

Gerdau (GGB) has been beaten down lately with too much selling pressure. While the stock has lost 19.7% over the past four weeks, there is light at the end of the tunnel as it is now in oversold territory and Wall Street analysts expect the company to report better earnings than they predicted earlier. reverse soon for reaching the old equilibrium of supply and demand. We use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is ...