AKS (AK Steel Holding Corp) offers an objective short entry here on this break below the 9.75 support level. Suggested stop above 10.40 with T2 (7.74) as the current final target with the possibility of an additional target to be added soon. AKS along with the steel sector & some other individual steel companies & the steel etf, SLX, were covered in detail in yesterday’s Steel Sector Analysis & Trade Ideas video. The 60-minute chart below lists the price targets & reasoning for a short entry at this time although the case supporting a short trade on AKS was also made via analysis of the daily & weekly charts which can be viewed in that video by clicking the link above.
AKS 60-minute Jan 13th