Steel Stock Looks Like a Steal

By Sam Collins,

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Worthington Industries Inc. ( WOR ) -- This diversified metal processing company focusing on steel processing and manufactured metal products has pulled back to its 50-day moving average following a round of profit-taking.   

WOR Chart  

Chart Legend  

The stock started this year with a major breakout, rising on the company's strong second-quarter results. Note the high volume on the breakout and lower volume on the recent pullback followed by new accumulation as it hit the 50-day moving average. 

S&P rates WOR a "four-star buy" with a 12-month target of $22. The technical target for WOR is $24-$25.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing Investing Ideas
Referenced Stocks: WOR

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