AKS & Steel Sector Analysis

Member @murphydoc inquired within the trading room if AKS (AK Steel Holding Corp) & the steel sector might have bottomed along with AKS's earnings induced rally today. My opinion on the next major trend in the steel sector isn't as strong as it was back in January when the I was calling for a top & correction in the steel sector in this post/video along with reiterating that call, even forecasting one last thrust to new highs before the top would be in this follow-up post back in early February.  That SLX chart/scenario from February 9th is followed by the updated [...]

2018-01-21T21:46:47+00:00 Jul 25, 2017 12:30pm|Categories: Equity Market Analysis, Gold & Commodities|Tags: , , |Comments Off on AKS & Steel Sector Analysis

SLX, AKS & Steel Sector Analysis

Member @teeps01 inquired about AKS (AK Steel) within the trading room. AKS, along with the other steel stocks are bouncing today, largely if not exclusively due to the fact that SLX (Steel ETF) is bouncing after the first tag of the primary uptrend line in months. The first tag of support in while is usually followed by a reaction. Hard to say how far this bounce goes but with the divergent high put in back in early Jan plus the fact that any new high in the coming weeks will almost certainly be another divergent high, I highly favor a breakdown [...]

2017-03-08T21:19:12+00:00 Feb 9, 2017 11:56am|Categories: Equity Market Analysis|Tags: , , |Comments Off on SLX, AKS & Steel Sector Analysis

AKS Final Official Price Target Hit for a 20% Profit

The AKS (AK Steel Holding Corp) short trade has hit T2 (the official final target) for a 20.3% profit. Consider booking profits or lowering stops if holding out for the unofficial 3rd target at 6.75. Original & updated 60-minute charts: While T2 was the official final target, my personal plan is to hold out for a what appears to be a likely move down towards the unofficial third target while lowering my stop to protect profits. I have set a stop-loss order (GTC) at 7.85, which is strategically set slightly above the previous reaction high, along with a standing [...]

2017-03-08T21:19:14+00:00 Jan 30, 2017 11:53am|Categories: Completed Trades - Short|Tags: |2 Comments

AKS First Price Target Hit for 15% Gain

AKS (AK Steel) has hit the first target (8.30) for a gain of 14.5%. Consider booking partial or full profits and/or lowering your stops if holding out for T2 or the potential (but still not official) T3. At this point, it would be prudent to lower stops to 10.15, just above yesterday's reaction high or lower, depending on your final target & preferred stop allowance. Previous & updated 60-minute charts:

2017-01-25T09:48:29+00:00 Jan 25, 2017 9:48am|Categories: Completed Trades - Short|Tags: |Comments Off on AKS First Price Target Hit for 15% Gain

AKS Swing Trade Update

AKS (AK Steel Holding Corp) is currently indicated to gap up on earnings today, trading at 9.82 in pre-market right now (or at least when I started to compose this update). That is only 11 cents above the entry price of 9.71 & right around the 9.75 resistance zone. A failure to hold this morning's gain & a close below the 9.75 resistance level would be bearish for the stock & increase the odds of the first target being hit soon while the minor uptrend line is the next resistance level. The suggest stop remains above 10.40. AKS 60-min Jan [...]

2017-03-08T21:19:14+00:00 Jan 24, 2017 9:13am|Categories: Completed Trades - Short|Tags: |4 Comments

Stock Market, Precious Metals/Miners & Trade Ideas Update (video)

This video starts with analysis on gold, silver, platinum & GDX, followed by coverage of the US stock market (via SPY, QQQ & IWM) various sectors & some of the recent trade ideas posted on Right Side Of The Chart.

2018-01-21T21:17:25+00:00 Jan 17, 2017 3:45pm|Categories: Equity Market Analysis, Gold & Commodities|Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |1 Comment