A technical look at the stock
traded below a falling trendline and below the falling 40-week Moving Average for about two years. In late-2022, the stock rallied above the 40wMA and above the falling trendline to signal the end of the negative trend .
Gibraltar reached a higher high earlier this year , then had a minor correction to support near the 40wMA and recently exceeded the previous high to signal the start of a new uptrend . Behaviour indicators including the rising 40wMA and the rising trendline confirm the bullish status. A minor correction US$56-57 would provide a better entry; only a sustained decline below ±US$53 would be negative.
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