AK Steel Holding Corporation (NYSE:AKS)
Is AK Steel still a buy or time to sell after the earnings report (-$0.47 Loss)? Your response is greatly appreciated.
Thanks and best regards,
A: We still have AKS in an Uptrend since we alerted a few days ago at $19.20. The last top was right around the $20 price point on 6/11 and again we are seeing a pullback from that level. Our indicators are not flashing any overbought signals but stochastics may be unwinding a bit. A better entry may be a little closer to support levels around the 50-day moving average. But AKS needs to eventually try and make a higher high than the one on 6/11 in order to maintain upward momentum. But sideways is ok for a short while.