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Next Support Level for AK Steel Holding (AKS) is $3.38
Mar 22, 2013 (SmarTrend(R) News Watch via COMTEX) --
AK Steel Holding (NYSE:AKS) has opened bearishly below the pivot of $3.49 today and has reached the first level of support at $3.43. Analysts will be watching for a cross of the next downside pivot targets of $3.38 and $3.27.
Over the past year, AK Steel Holdinghas traded in a range of $3.37 to $8.65 and are now at $3.45. The 200-day and 50-day moving averages have moved 1.09% lower and 2.37% lower over the past week, respectively.
AK Steel Holding has overhead space with shares priced $3.45, or 34.2% below the average consensus analyst price target of $5.24. The stock should run into initial resistance at its 50-day moving average (MA) of $4.05 and subsequent resistance at its 200-day MA of $4.85.
SmarTrend recommended that its subscribers protect gains by selling shares of AK Steel Holding on January 30th, 2013 by issuing a Downtrend alert when the shares were trading at $4.03. Since that call, shares of AK Steel Holding have fallen 13.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Write to Chip Brian at cbrian@mysmartrend.com
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