Resistance

Daily

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>GLEN stock price was down 3.4% in the last trading session and is currently trading at £419.</a> </li> 
 <li> <span>2</span> <a>Glencore International’s price (NYSE: GLEN) slid nearly 8% in the past 3 trading sessions after the disclosure of the quarterly results.</a> </li> 
</ul> 
<p>GLEN stock price has been in a correction phase after a decline of nearly 20% in March 2023 from very crucial support. Thereafter, the price entered a correction phase, and it is trading in the range formed. Also, the price seemed to respect an upper trendline resistance and suffered multiple rejections leading to the formation of a descending triangle pattern.&nbsp;</p> 
<p>Recently, the price tried a breakout after a consolidation near the trendline but the underperforming quarterly results disappointed the investors leading to a decline in the price.</p> 
<p>Glencore International (NYSE: GLEN) is a company that deals with various commodities, such as metals, minerals, energy, and agriculture. It supplies these commodities to different industries, such as automotive, steel, power, battery, and oil. It has three main segments: marketing, industrial, and corporate, among others.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/TCXV9wQjtfLAtNi71wN-NKfeU31xRlPR4GztXNyjA4csU1OqofY2EnLrIlna6U9_gUYMQoc4Xj2VXp45Ukz-2adk63BiGcYKFopyMTcGGpTsSfxCdZw18MB91L0A25nOXpU2BE8-X9usFt597inOKA" alt="GLEN Stock Slides Down; Earnings Do Not Meet Analyst’s Estimates"> 
  <figcaption class="wp-element-caption">
    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Source: barchart.com 
  </figcaption> 
 </figure> 
</div> 
<h2 class="wp-block-heading" id="strong-glen-stock-price-experiences-post-result-effect-slids-8-in-the-past-3-days-strong"><strong>GLEN Stock Price Experiences Post Result Effect, Slids 8%&nbsp; in the Past 3 Days</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/_UZ7d2nP-k6ZCzKNA7lkkY8q3-BONfxfo7w7ksPXJEQ3HU2eD2hNj1oUPFnY3NfZilR80QAUAk2i4wQ8uZENkeHlsDxBtzWO_Xt4NttmNU7C9QLeU2TkDjmlEDS5kc438vK8ecUttMPt8DcwcXTseg" alt="GLEN Stock Slides Down; Earnings Do Not Meet Analyst’s Estimates"> 
  <figcaption class="wp-element-caption">
    Source: Glencore International 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>The GLEN stock price currently trades at £419.05 and still trading in a range formed and nearing the previous demand zone.</p> 
<p>The short-term trend is neutral to bullish under the condition that the price gets the buying volume near the demand zone.&nbsp; Analysts say that the price might fall below $400 if it fails to gain the buyer’s trust near the demand zone.</p> 
<p>The quarterly results have left a negative impression on the stock price sentiments. The price needs strong buying volume to overcome and make a shift in the sentiment to surge in the long term.</p> 
<h3 class="wp-block-heading" id="strong-the-technical-indicators-are-showing-weakness-on-the-daily-charts-strong"><strong>The Technical Indicators are Showing Weakness on the Daily Charts</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/AtjE1-bBdLcreweyC2DMMJArHKmwQwXtlXvFfyLTK6NvxuUaddYjOq2qwrolGhjK001Ttw6B0tNQ-7nKTmXtvMU53ZdPqGMhe89SW-HwHzNJ6XnqHp-JYjQv80fxEmhp-zIItfGVoUu-Fk7hbnyPOw" alt="GLEN Stock Slides Down; Earnings Do Not Meet Analyst’s Estimates"> 
  <figcaption class="wp-element-caption">
    Source: Glencore International 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>The daily <a href="https://www.thecoinrepublic.com/2023/07/15/glencore-plc-stock-price-prediction-glen-stock-price-fall-soon/" target="_blank" rel="noopener noreferrer nofollow">GLEN stock price</a> chart shows that the price is trading below the 50 and 200-day EMA indicating the dominance of the sellers at upper levels. The overall technical opinion rating including RSI and MACD is signaling a 56% sell with a neutral short-term outlook on maintaining the current direction. Long-term indicators support the continuation of the ongoing trend.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>GLEN stock price prediction concludes that the stock price has been fluctuating in a range after a sharp drop in March 2023. It faces resistance from a descending triangle pattern and it failed to break out due to poor quarterly results. The price is nearing a previous demand zone and needs strong buying volume to recover. The short-term trend is neutral to bullish, but the price may fall below $400 if the demand zone is breached. The quarterly results have negatively affected the stock price sentiment.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support levels:</strong> £408.65 and £387.95.</li> 
 <li><strong>Resistance levels:</strong> £487.10 and £507.9.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

GLEN Stock Slides Down; Earnings Do Not Meet Analyst’s Estimates

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Thecoinrepublic.com

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