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AK Steel Etching Base Above Its 50-Day Line.(B)(NYSE STOCKS IN THE NEWS)
Byline: Nancy Gondo
AK Steel marked a five-year high Dec. 29 and pulled back as much as 22% over the next two weeks. The stock found support above its 50-day moving average and has been carving a base since. Keep in mind a cup-shaped base needs at least seven weeks to form. Three up weeks or upper-half closes on heavy trade offset one down week on above-average volume, a positive sign. The stock is 8% off its high.
The steel products maker earns the third best Stock Checkup Technical and Attractiveness Ranks in its 26-stock group, but its Fundamental Rank could use help. It grew sales over 30% the past three quarters. Analysts expect a slowdown ...
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