Here is why Technicals Are a BEAR on AK Steel Holding Corporation (AKS)

AK Steel Holding Corporation (NYSE:AKS) fell by -2.26% in Thursday’s trading session from $5.74 to $5.61 and has now fallen 3 consecutive sessions. The price has been moving in both directions for this period, and there has been a -2.77% loss over 10-day period. Volume has increased in Thursday’s trading session by 6.56 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, 18.30 M shares exchanged hands for about $102.67 million.

Inside AKS’s Recent Trend

AK Steel Holding Corporation (AKS) lies in the middle of a very wide and falling trend in the short term and pointed towards extra losses. Short-term traders are anticipated to see a retreat of -15.57% over the course of a quarter and, with 90% chance the price will be floating in the range of $3.97 and $5.18 in this timeframe.

AK Steel Holding Corporation Technical Signals

AKS has witnessed its short term MA triggering a sell signal. Meanwhile, however, the long-term average has generated a buy signal. When the short-run moving average rises above its longer-term trend, a buy signal is created. This is because a short-run moving average that crosses its long-run moving average counterpart is seen as the initiation of an upward trend. On additional rally, the share price will meet short term resistance at around $5.79. On a drop, the stock is likely to find some support over the long run, which begins at $5.50. A buy signal will be generated if it crosses above the short term moving average. Meanwhile, however, a price crossing below the long term moving average will generate a sell signal.

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 $5.60. In case of gains, the next resistance from accumulated volume will be at $5.98, $6.24 and $6.78.

AK Steel Holding Corporation (AKS) Risk Assessment

A volatility based measure Bollinger Bands suggests this stock poses high risk. In the most recent session, the stock price hovered around $0.23 between high and low, or 4.20%. The average volatility for the past week stood at 3.91%.

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