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Steel Stocks Start to Lift...


Friday June 23rd, 2017
Steel Stocks Start to Lift...
by Mike Paulenoff www.MPTrader.com

AK Steel Holding Corporation (AKS) is pushing up against key, near-term resistance at 6.60/61, which, if hurdled and sustained, will trigger upside potential towards a challenge of its up-sloping 200-DMA, now at 7.24.

Let's notice that for the past two weeks, AKS has tested and held numerous times at its up-turning 20-DMA.

Today's strength has the right look of a classic thrust up and away from the 20-DMA.

If AKS strength is preserved, and, if the stock can close above 6.60, then it will be poised for upside continuation and acceleration.

Our Model Portfolio has been long AKS at 6.26 from May 31.

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