Finance

AK Steel Holding Corporation (NYSE:AKS): Can the Bear Run Continue With Mixed Technical Indicators

AK Steel Holding Corporation (NYSE:AKS) fell by -2.74% in the last day from $6.20 to $6.03 and has now fallen 4 consecutive sessions. The price has fallen in 6 of the last 10 days , but is still up by 0.5% during the last two weeks. Volume has increased in the last day by 6.93 million shares, but on a weak note. This is may be an early warning and the risk will be increased slightly for the next couple of days. In total, 23.37 M shares exchanged hands for about $140.89 million.

Inside AKS’s Recent Trend

AK Steel Holding Corporation (AKS) lies in the lower part of a wide and weak rising trend in the short term, and this will normally pose a very good buying opportunity. A break down through the resistance trend line at $5.84 will initially suggest a lower tendency for gains in the price and this might very well be an early sign that a trend shift is coming. Short-term traders are predicted to see a rally of 8.48% over the course of a quarter and, with 90% chance the price will be floating in the range of $6.34 and $7.52 in this timeframe.

AK Steel Holding Corporation Technical Signals



AKS has witnessed its long term and short term MA triggering a sell signal. Upon corrections, the price will meet resistance from the averages between $6.38 and $6.32. A buy signal will be generated if it crosses above any of these levels. Its pivot point high generated sell signal on Wednesday July 19, 2017, which calls for additional declines until the stock forms a new pivot point low, as this could be a buying opportunity. Volume up and price depreciating is getting our attention as this movement is seen as bearish sign.

AK Steel Holding Corporation (NYSE:AKS) Support And Resistance Levels

AK Steel Holding Corporation (AKS) recorded volume accumulation so there will probably be a surplus of buyers at $5.95, $5.85, and $5.55. In case of gains, the next resistance from accumulated volume will be at $6.40, $6.45 and $6.20.




AK Steel Holding Corporation (AKS) Risk Assessment

The number of shares changed hands in the stock is good, indicating the interest and low risk associated with it. In the most recent session, the stock price hovered around $0.30 (5.07%) between intraday high and intraday low. Each day in the past 1 week, the average volatility remained at 4.62%.

 

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