The Chart of the Day is AK Steel (AKS). I found the stock by sorting the New High List for frequency in the last month and eliminating the stock that did not have a positive gain for the last week and month. Since the Trend Spotter signaled a buy on 10/14 the stock is up 180.00%.
The Company produces flat-rolled carbon, stainless and electrical steel, and tubular products in the United States and internationally. They produce flat-rolled carbon steels, including coated, cold-rolled, and hot-rolled carbon steel products; and specialty stainless and electrical steels in sheet and strip forms. It also produces carbon and stainless steel that is finished into welded steel tubing used in the automotive, large truck, industrial, and construction markets, as well as buys and sells steel and steel products, and other materials. The company sells its flat-rolled carbon steel products primarily to automotive manufacturers and to customers in the infrastructure and manufacturing markets, including electrical transmission, heating, ventilation and air conditioning equipment, and appliances; and coated, cold rolled, and hot rolled carbon steel products to distributors, service centers, and converters. AK Steel Holding sells its stainless steel products to manufacturers and their suppliers in the automotive industry; manufacturers of food handling, chemical processing, pollution control, and medical and health equipment; and distributors and service centers. The company also sells electrical steel products for use in the manufacture of electrical motors and generators.
Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
Barchart technical indicators:
- 100% Barchart technical buy signals
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 15 new highs and up 48.17% in the last month
- Relative Strength Index 83.27%
- Barchart computes a technical support level at 7.05
- Recently traded at 7.68 with a 50 day moving average of 5.31
Fundamental factors:
- Market Cap $1.05 billion
- Analysts think revenue will be down 6.50% thus year but up 5.60% next year
- Earnings are expected to be down 3.50% this year but increase 123.70% next year and continue to increase at an annual rate of 10.00% for the next 5 years
- Wall Street analysts issued 2 buy, 10 hold, 3 under perform and 3 sell recommendations
- Financial Strength is C+
Monitor the 50 day moving average for exit points.
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