Million

Resistance

Simply

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Glencore plc is significantly less volatile than the other US shares over the last three months and its weekly volatility is also stable over the past year.</a> </li> 
 <li> <span>2</span> <a>GLEN share price decreased by 4.65% over the past week and is currently below all major EMA’s.</a> </li> 
 <li> <span>3</span> <a>Glencore plc. ( LSE: GLEN) share’s 52-week price range is around £3.95 – £5.84.</a> </li> 
</ul> 
<p>The Glencore share recently publicized its first half 2023 earning report on August 10th, 2023, the reported earnings gave a negative surprise by 2.44% from the estimated earnings. Moreover, the reported revenue gave a positive surprise by 1.12% from the estimated revenue.</p> 
<p>GLEN share average volume is 22.772 Million and the current volume is 13.854 Million where the current volume is below average volume.&nbsp;</p> 
<p>Glencore plc. (GLEN) Share market capitalization is £51.328 Billion and the total revenue is £207.574 Billion. Moreover, the share’s basic EPS is £0.65 and the price-to-earnings ratio is 6.55.</p> 
<p>GLEN share holds good value, as reported by the financial analysis website, Simply Wall St., based on its ratio of Price-to-Earnings which is 6.7x compared to the estimated Fair ratio of price-to-earnings which is 9x and compared to the average of the UK Metals and Mining industry which is 7x.</p> 
<p>According to the analyst’s future growth forecasts on Simply Wall St., GLEN share is predicted to decline its earnings over the upcoming next three years. Moreover, GLEN share’s current revenue generated per year is 0.04%, and it is predicted to increase slower per year by 20%.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-of-glen-share-price-in-1-d-timeframe-strong"><strong>Technical Analysis of GLEN Share Price in 1-D Timeframe</strong></h2> 
<p>At the time of publication, the GLEN share’s current price is trading around £26.45 trying its best to sustain CMP and facing the trendline, and most probably Glencore plc share might decline more and may drop back to the liquidity demand zone.</p> 
<p>At the time of publication, the<a href="https://www.thecoinrepublic.com/2023/08/21/sofi-stock-nasdaq-sofi-fell-28-will-the-downfall-continue/" rel="noopener noreferrer nofollow"> GLEN share’s current price</a> is around £4.200 trading at the demand zone where liquidity is present in the GLEN share, and buyers most probably have pending buy or sell orders in GLEN share waiting to be triggered over daily time frame chart, either the GLEN share price might consume liquidity and crash further or may take support and ascend upwards.</p> 
<p>Therefore, if Glencore fails to maintain its current level, the GLEN price could continue to drag downwards and hit the nearest support levels around £4.1035 and £4.0060.</p> 
<p>However, if the share price sustains the current level and Glencore’s price increases, then it might reach the nearest resistance levels of £4.3185 and £4.5010.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/q5fmIRhq4ZzFnlswsnEEEpUTE2EMb8zgR0ZQsP-emnaNTQGTdUf3_hRmNetsGm4MlQwD4mw-67XyTG9aZ4WensKuu8runp_13A8j-QNDJ5C0Ex-QFWgo6ULdU1QQ4T0eyTPv9_qOcQxE4Es2OZakieU" alt="Glencore Share Forecast: (LSE: GLEN) On Investor's Choice List?"> 
  <figcaption class="wp-element-caption">
    Source: GLEN.1D.LSE by TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>At the time of publishing, Glencore plc. (LSE: GLEN) is trading below the 20, 50, 100, and 200 EMA which is rejecting the price. As per the investor’s sentiments, if more selling volume adds up in the GLEN share then the price might conquer supports which are supporting, by making a downtrend lower highs and lows. Conversely, if more buying volume adds up then the GLEN price might conquer resistance which is resisting.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/qoDVrepq8neDvX5zjjURaTe9vk13gLYz39OI0aQUNrx3P9vOxusGkX4A5miE7evWYA86obCzpCx94XxgdRbDxq5WFATYzGKLmatLO-HUhUd9owGJnrA7dcSTItnr_-rf0gppIqhZeGG_r2xwXQJRVVI" alt="Glencore Share Forecast: (LSE: GLEN) On Investor's Choice List?"> 
  <figcaption class="wp-element-caption">
    Source: GLEN.1D.LSE by TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>RSI indicates bearishness for GLEN share, the current value of RSI is 35.20 points. The 14 SMA is below the median line at 41.58 points which indicates that Glencore share is in bearish territory</p> 
<p>MACD indicates a bearish crossover for GLEN share, the MACD line at 0.1013 and signal line at 0.0526 is below the zero line and both lines have crossed each other which expresses bearish hints for the Glencore share price.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>Glencore plc. (LSE: GLEN) indicates that the traders and investors of the share price are bearish on the 1-D time frame. The price action for GLEN shares predicts a bearish outlook at the time of publishing. The technical analysis tools of Glencore share price also support bearish hints. The EMA, RSI, and MACD highlight downward hints and predict that a downtrend may continue in Glencore share price.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support levels</strong>: The nearest support levels for Glencore share price are £4.1035 and £4.0060.</li> 
 <li><strong>Resistance levels:</strong> The nearest resistance levels for the Glencore share price are £4.3185 and £4.5010.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>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.</p>

Glencore Share Forecast: (LSE: GLEN) On Investor’s Choice List?

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