Glencore’s earnings are rising by 34.2% per year, which is faster than the Metals and Mining industry’s average. This is based on data from Simplywall, a website that provides analysis and insights on stocks. Glencore’s revenues have also been increasing slightly, by 0.7% per year. Glencore has a high return on equity of 36.5% and a net margin of 6.8%.
Moreover, Glencore has more equity than debt, with a debt-to-equity ratio of 61.9%, according to Simplywall. Glencore’s total assets are £100.8 Billion and its total liabilities are £66.4 Billion. Glencore’s EBIT is £18.1 Billion, which means it can easily pay its interest expenses, with an interest coverage ratio of 18.4. It has £1.5 Billion in cash and short-term investments.
The market capitalization of GLEN stock is £57.68 Billion and the total revenue is £195.24 Billion. The stock’s basic EPS is £1.40 and the price-to-earnings ratio is 13.3.
Moreover, the average volume is 25.795 million and the current volume is 18.078 million, which is lower than the average volume. The stock performed well this week, as it rose by 7.0%, and it has increased by 14.7% since last year.
Glencore plc, Technical Analysis in the 1-D Time Frame
The price action shows that Glencore plc (LSE: GLEN) price went up from £4.1035 to £5.023 in two months, however, from there, it went to £4.1035 again in another two months.
GLEN stock faced resistance at £5.023 and support at £4.1035. Since then, GLEN stock price has been moving between the upper and lower trendlines, forming a symmetrical triangle pattern. This pattern means that Glencore Plc stock price could go up further if more buyers come in.
Moreover, at the time of publishing, GLEN stock price is trading at £4.668 and is making higher highs. To sustain this rally, buyers need to increase their volume, as it is below the moving average. If the volume rises above the moving average, new highs may appear and might smash multiple resistance levels in the coming weeks
At the time of publishing, Glencore plc ( LSE: GLEN ) price is trading above the 20, 50, and 100-day EMAs (exponential moving average), which is supporting the price trend. Hence, Glencore plc stock price is expected to move upwards giving bullish signals over the daily time frame chart.
The current value of RSI is 59.45 points. The 14 SMA is slightly above the median line at 51.31 points which indicates that the price is bullish as the RSI took support on 14 SMA and is headed upwards.
The MACD line at 0.0337 and signal line at 0.0225 are above the zero line and a bullish crossover was observed. Hence, the Glencore plc stock price prediction suggests the stock is bullish.
Summary
Glencore plc stock price shows that the investors and traders of the stock are bullish about its direction in the 1D time frame. The price action shows a bullish outlook at the time of publishing. The technical parameters of the GLEN stock price also support the bullish trend. The key indicators, MACD, RSI, and EMA are giving positive signals and imply that the uptrend may continue.
Technical Levels:
- The nearest support: UK£4.3185 and UK£4.1035.
- The nearest resistance: UK£4.8090 and UK£5.020.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/07/15/glencore-plc-stock-price-prediction-glen-stock-price-fall-soon/