Long
AKS a Buy at 3.68
I believe AKS is a Buy at 3.68 for a potential day or swing trade opportunity if we can get triggered in.
Set a limit order of 3.68 with a stop at 3.60 for reward:risk ratio of 4:1 at the current target price.
The parallel channel is made up of a ton of white (bullish) candles and so a healthy pullback is underway to $3.68. I think this is true because of the respect the stock price showed to the 200 EMA on the 5 min chart on the last dip
Also I believe alot a buyers are selling to close at 4.00 so it is acting a a huge resistance so i would take profit there. If it beaks above 4 it will be all new buyers and create a new buying opportunity.
Investors have been waiting for months for the news of official tariffs preventing the over-supply of steel from china and it finally came a few days ago so I am long term bullish on AKS and believe a target price of 6.50 is possible by the middle of summer
Set a limit order of 3.68 with a stop at 3.60 for reward:risk ratio of 4:1 at the current target price.
The parallel channel is made up of a ton of white (bullish) candles and so a healthy pullback is underway to $3.68. I think this is true because of the respect the stock price showed to the 200 EMA on the 5 min chart on the last dip
Also I believe alot a buyers are selling to close at 4.00 so it is acting a a huge resistance so i would take profit there. If it beaks above 4 it will be all new buyers and create a new buying opportunity.
Investors have been waiting for months for the news of official tariffs preventing the over-supply of steel from china and it finally came a few days ago so I am long term bullish on AKS and believe a target price of 6.50 is possible by the middle of summer
Trade active
Triggered in and thinking, a big gap up on Monday as investors and analysts weigh-in on the news and significance of recently imposed tariffs and regular investors hop in for the ride. However, AKS is in a very overbought state on the daily so I will be looking to exit all of my position at the target.
Trade closed: target reached
Trade gapped up on Monday and hit target for a reward:risk win of 4:1.If AKS can close above 4 for the next few days you may want to be a buyer at that level. If not, then buy on the pull back in the 3.80 to 3.25 dollar level because AKS is very overbought on the daily but still is very bullish up to 6.50
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.