AK Steel Holding Corporation (AKS) is an American steel company headquartered in West Chester, Ohio. In 2015, the company produced and shipped over 7 million tons of steel. The company's name is derived from the initials of Armco, its predecessor company, and Kawasaki Steel Corporation, which contributed several of its production facilities to the company in 1989 in exchange for a large stake in the company. The company executed an initial public offering in 1994.
Reported before open today (4/26/16) Earnings: EPS -$0.08 Revenue $1.52B Estimates: EPS -$0.15 Revenue $1.48B
AK Steel tops 3Q profit forecasts WEST CHESTER, Ohio (AP) _ AK Steel Holding Corp. (AKS) on Tuesday reported third-quarter net income of $50.9 million. The West Chester, Ohio-based company said it had net income of 21 cents per share. The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share. The steel producer posted revenue of $1.45 billion in the period, which matched Street forecasts. AK Steel shares have more than doubled since the beginning of the year. The stock has increased 97 percent in the last 12 months.
Analyst Upgrade/Downgrade Update Brokerage firm: Cowen Change: Coverage Reiterated/Price Target Changed Previous Rating: N/A Current Rating: Market Perform Previous Price Target: $7 Current Price Target: $8
Analyst Upgrade/Downgrade Update Brokerage firm: Morgan Stanley Change: Upgrade Previous Rating: Equal Weight Current Rating: Overweight Previous Price Target: N/A Current Price Target: N/A
Saw this one on the trending names this morning. Wondering if this 6.70 area holds which is about where the 200d sits.
Can't see your image because imgur is blocked at work, so sorry if this is a duplicate post basically. Looks like some pretty important support right here...
I been watching this one for a while... I wanted it to be a buy!... But the lower lows and high volume sell offs are turning me off Plus I read some background... This company has had some serious environmental and employment issues!!!.... Disaster waiting to happen Yet... Here I am, still watching.... A cheap infrastructure related company is still a temptation, with a "Trump bump" waiting just over the horizon........... Even though this range has distribution written all over it
Distribution (by the smart money to the sheeple) in the short term yes, in the trading ranges above, but the cause built from that distribution is about used up in this recent mark-down phase (marked down by the sheeple). Pull it back on a weekly and monthly chart and it appears to be part of a larger accumulation campaign. As for the "background", well someone always has an agenda, and I would be inclined to read that skeptically, and take the contrarian point of view. The news is almost always intended for the sheeple to get them to do what the Composite Man (aggregate of smart money) wants them to do. But yes, best to wait for a change of character from this recent down trend.
Approaching $5.50. Why is $5.50 important ? The cause built in the last trading range will be used up at $5.50 (see point and figure chart above) AB = CD projects to $5.51 Top of high-volume gap-down 10/27 (close of 10/26) = $5.50 Daily:
