Trading Idea - AK Steel Broke Resistance, What to Expect?

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Trading Idea - AK Steel Broke Resistance, What to Expect?

Published on Thursday, 26 January 2012 07:04 Written by Christian Paolinetti

New York, January 26th (TradersHuddle.com) - Shares of AK Steel Holding Corporation (NYSE:AKS) closed the trading session at $10.04 just above calculated resistance at $9.58 moving to what appears to be a new range, as this move will clearly raise the attention of momentum buyers.

AK Steel Holding Corporation (NYSE:AKS), through its subsidiaries, produces flat-rolled carbon, stainless, and electrical steels, and tubular products primarily in the United States and internationally. The Company produces coated, cold rolled, and hot rolled carbon steel for the automotive, appliance, construction, and manufacturing markets. AK Steel also cold rolls and aluminum coats stainless steel for automotive industry customers. Key Statistics

AK Steel's stock was trading in a well defined range with support at $8.76 and resistance at $9.58, given that this range was broken traders will be closely monitoring the stock

AK Steel Holding Stock To Go Ex-dividend Tomorrow (AKS) - TheStreet.com
The Day Ahead: Valuation-Off - TheStreet.com
Ex-Dividend Stocks: DuPont, AK Steel - TheStreet.com
AK Steel Announces Price Increase For Carbon Steel Products - Benzinga
UPDATE: Dahlman Rose Lowers AK Steel Holding's PT - Benzinga
UPDATE: Citigroup Downgrades AK Steel to Neutral - Benzinga
Analysts' Actions: FSLR, JDSU, CHK, AKS - TheStreet.com
Citigroup Downgrades AK Steel Holding from Buy to Neutral, Lowers PT from $12 to $9 - Benzinga
AK Steel Holding Stock To Go Ex-dividend Tomorrow (AKS) - TheStreet.com
UPDATE: Bank of America Downgrades AK Steel to Underperform - Benzinga

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