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Best Relative Performance in the Steel Industry Detected in Shares of Allegheny Technologies (ATI, X, CMC, STLD, CRS)

By Amy Schwartz

We looked at the Steel industry and measured relative performance to find the top stocks. Relative outperformance is a bullish sign of underlying fundamental and technical strength. We look at yesterday's price action of all companies in this peer group.

Allegheny Technologies (NYSE:ATI) ranks first with a gain of 4.72%; U.S. Steel (NYSE:X) ranks second with a gain of 3.44%; and Commercial Metals (NYSE:CMC) ranks third with a gain of 3.21%.

Steel Dynamics (NASDAQ:STLD) follows with a gain of 2.30% and Carpenter Technology (NYSE:CRS) rounds out the top five with a gain of 2.13%.

SmarTrend recommended that its subscribers protect gains by selling shares of Allegheny Technologies on April 6th, 2016 by issuing a Downtrend alert when the shares were trading at $14.65. Since that call, shares of Allegheny Technologies have fallen 23.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: relative performance allegheny technologies U.S. Steel commercial metals Steel Dynamics Carpenter Technology