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Watch for Shares of Olympic Steel (ZEUS) to Approach Support at $23.64

Written on Thu, 07/15/2010 - 2:56pm
By Chip Brian

SmarTrend has detected shares of Olympic Steel (NASDAQ:ZEUS) have bearishly opened below the pivot of $24.34 today and have reached the first level of support of $23.93.
Should the shares continue to fall, we are monitoring the next support pivots of $23.64 and $22.93. Also, the shares are currently trading below the 50-day moving average of $25.73 and below the 200-day moving average of $29.40.
SmarTrend, our proprietary pattern recognition system, alerted subscribers to sell shares of Olympic Steel on May 03, 2010 at $31.65. Since the call, the stock has fallen 25.3%.

Keywords: olympic steel pivot points

Ticker(s): ZEUS

Contact Chip Brian



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