Future

Equity

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>GGAL stock price: The company’s stock has just reclaimed its support level</a> </li> 
 <li> <span>2</span> <a>The company made a growth of more than 474% in its net income for the current quarter.</a> </li> 
 <li> <span>3</span> <a>The current trend is negative, but a reversal may occur soon.</a> </li> 
</ul> 
<p>Argentina-based holding company Grupo Financiero Galicia SA (NASDAQ: GGAL) facilitates services like banking, insurance, and the issuance of certificates of deposit. The firm provides these services through its subsidiaries.</p> 
<h2 class="wp-block-heading" id="strong-financial-highlights-of-the-recent-quarter-strong"><strong>Financial Highlights of the Recent Quarter</strong></h2> 
<p>The company reported its revenue of $2.9 billion for the quarter ended in June 2023. The growth in the revenue was impressive at 78% when compared with the same quarter a year before. However, the company’s operating income also made a growth of 106%, which displays how well the management has managed the selling and general expenditures.&nbsp;</p> 
<p>Moreover, the net income of the firm also grew by more than 474%, with positive and growing net income from these years. The profitability ratios like return on equity and earnings per share have also grown. The ROE is 17.63% and EPS is $4.0.</p> 
<h3 class="wp-block-heading" id="strong-some-other-ratios-strong"><strong>Some other Ratios&nbsp;</strong></h3> 
<p>The company has a price-to-earnings ratio of 2.77 and a price-to-sales ratio of 0.15. Moving toward the balance sheet ratios, the current ratio is 6.38 and the Debt to Equity ratio is 0.04. Moreover, the long-term debt to total assets ratio is 0.02, and the Asset turnover ratio is 0.59</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-and-prediction-of-the-ggal-stock-price-strong"><strong>Technical Analysis and Prediction of the GGAL Stock Price</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" loading="lazy" width="1600" height="799" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-767.png" alt="GGAL Stock Price: Bulls Reclaimed the Support, What’s Ahead?" class="wp-image-178285" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-767.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-767-300x150.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-767-1024x511.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-767-768x384.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-767-1536x767.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-767-360x180.png 360w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-767-750x375.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-767-1140x569.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   Chart provided by<a href="https://in.tradingview.com/chart/X78t0Vyp/?symbol=NASDAQ%3ACIFR"> Tradingview </a>(weekly time frame)
  </figcaption>
 </figure>
</div> 
<p>The GGAL <a href="https://www.thecoinrepublic.com/2023/10/15/backed-by-strong-financials-cey-stock-price-rose-11-6-in-5-days/" target="_blank" rel="noreferrer noopener">stock price</a> started rising back in June of this year. The bulls took support from the level of the $11.69 level to create a bullish rally that ended up rising to $18.64 in the recent August. It was also the year to year to date high (YTD), after which the stock went into a downtrend.</p> 
<h3 class="wp-block-heading" id="strong-present-and-future-strong"><strong>Present and Future</strong></h3> 
<p>At the press time, the GGAL stock price is trading at the level of $11.05 after the bulls have reclaimed the support level of $11.05. The immediate resistance from this point is situated at $12.83, while the 2nd resistance is at $14.28. The 50-day exponential moving average is at $13.8, while the 150-day exponential moving average is at $13.92.</p> 
<p>The Relative Strength Index (RSI) is currently rising from the oversold level of 30. The Simple moving average line (SMA) has just made a bullish crossover, depicting short-term strength in bulls. However, the prediction for the GGAL stock price will be bullish till its resistance level, considering the current price action.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Grupo Financiero Galicia SA (NASDAQ: GGAL) is a holding company that provides various finance-related services. The company reported positive financial numbers for the recent quarter with a growth in revenue and net income.&nbsp; However, the current stock price is in a downtrend, while the prediction is bullish.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support:</strong> $11.1, and $9.54</li> 
 <li><strong>Resistance: </strong>$12.83, and $14.28</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. They do not establish financial, investment, or other advice. Investing in or trading in stocks or related indexes comes with a risk of financial loss.</p>

GGAL Stock Price: Bulls Reclaimed the Support, What’s Ahead?

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