For Immediate Release
Chicago, IL - 03/30/2012 - Zacks highlights commentary from
People and Picks Trader
"
inthemoneystocks
"
.
For more Voice of the People, visit
http://at.zacks.com/?id=5851
Featured Post
Steel May Continue to Melt
This morning, most of the leading steel stocks are trading
slightly lower on the session. The important steel sector has been
declining since March 19, 2012. The sector still looks as if it can
have further downside in the near term before any meaningful bounce
can take place.
The leading steel stock that most traders follow is
U.S. Steel Corp
(
X
). Today, the stock is trading lower by 0.41 cents to $28.42 a
share. This stock will have some daily chart support around the
$27.50, and $26.00 levels. Short term traders can watch for
intra-day support around the $28.00, and $27.50 levels.
Some leading steel stocks that are coming under selling pressure
today include
Nucor Corp
(
NUE
),
Steel Dynamics Inc
(
STLD
) and
AK Steel Holdings Corp
(
AKS
). All of these stocks could have further downside in the near term
according to pattern on the daily charts at this time.
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AK STEEL HLDG (
AKS
): Free Stock Analysis Report
NUCOR CORP (
NUE
): Free Stock Analysis Report
STEEL DYNAMICS (
STLD
): Free Stock Analysis Report
UTD STATES STL (
X
): Free Stock Analysis Report
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