Steel & Iron Sector

RTP, NUE, RIO SCHN SID, PKX, AKS, and MTL was suggested by Allan to look at. Of these stocks, I like to trade stocks typically with high daily volumes, usually in excess of 1M shares average a day. However, 6 of them look okay to trade and I'll explain why.


NUE
- Volume = approx 4M daily average
- MACD & RSI = bullish
- Momentum = starting to gain in bullish
- Bollinger = @ upper band
- Moving Averages (Exponential) = above 5, 10, 20, 50
- Parabolic Sars = bullish
- Commodity Channel Index = bullish
- Targets = Upside @ 64, 69.50


PKS
- Volume = approx 740K daily average
- MACD & RSI = bullish
- Momentum = bullish, but no momentum
- Bollinger = moving along underside of upper band, pulling away
- Moving Averages (Exponential) = above 5, 10, 20, 50
- Parabolic Sars = bullish
- Commodity Channel Index = bullish
- Targets (Upside) = 179, 190, 202
- Targets (Downside) = 155, 144, 132

RIO
- Volume = approx 23M daily average
- MACD & RSI = bullish, but possibly turning over to bearish
- Momentum = picking up momentum, but hesitation in bullishness
- Bollinger = below upperband
- Moving Averages (Exponential) = above 5, 10, 20, 50 as well as 100 & 200 Simple
- Parabolic Sars = bullish
- Commodity Channel Index = bullish, but starting to turn
- Targets = Upside @ 52
Notes: Because it just had a split, it may hang out where it's at for a few days before taking a direction. See next graph and what it's done the prior 2 splits. If it does do the same thing, 52ish will be the target. The graph prior is the adjusted splits price whereas the graph after these notes does not include splits post pricing.

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NOTES - For those that have looked at this, I've now updated my analysis on this. The volumes were just eyeballing on a chart over the past months and is not completely accurate.

SID
- Volume = approx 1M daily average
- MACD & RSI = overbought and starting to turn over possibly
- Momentum = no momentum, bullish losing ground
- Bollinger = moving from upper band towards 10 MA
- Moving Averages (Exponential) = at 5 EMA, above the others
- Parabolic Sars = gap closing on bullish, as if heading towards bearish
- Commodity Channel Index = going towards bearish
- Targets (Downside) = 55, 50

RTP
- Volume = approx 500K daily average
- MACD & RSI = overbought
- Momentum = losing momentum on bullish, gaining in bearish
- Bollinger = @ 10 MA
- Moving Averages (Exponential) = at 10 EMA, below 5 EMA, above 20, 50 EMA & 100 & 200 MA
- Parabolic Sars = bearish
- Commodity Channel Index = going bearish
- Targets (Downside) = 274, 257, 221

AKS
- Volume = approx 2.8M daily average
- MACD & RSI = sideways
- Momentum = no momentum
- Bollinger = @ 10 MA
- Moving Averages (Exponential) = at 5 & 10, above 20 & 50 EMA
- Parabolic Sars = bearish
- Commodity Channel Index = bearish
- Targets (Upside) = 44.50, 47.60
- Targets (Downside) = 35.50, 30.50, 26.40
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5 Responses
  1. Allan B Says:

    This is options expiration week and news from FOMC out tomorrow. Because of these two events, I do not open any new positions. These two events can adversely affect price. Be careful if you're in short term.

    I may nibble at something on Friday.

    and...Yes.... do get some rest. :-)


  2. Doris Says:

    I only have one position opened and will be closing it shortly. Other than that, all my other positions were closed last week.

    If I open positions, it will be after the FOMC and they will be October options.

    My trading coach suggested/advised it was not wise for me to put out my trades like I have been, so as of my conversation with him last week, I will cease from doing this in the future.

    However, I will look to put on different positions similarly, but without all the details as to which option, how much I spent, how much I actually made, etc for my own safety.

    I had already written down earlier in my blog how I go about determining which option I choose, why, etc., so let that be the case. Will explore things that I fund as well as look at other things and no one will really know whether it's funded or not.


  3. Allan B Says:

    check out this site:

    http://www.davelandry.com/

    dave's a great source if you have any questions on anything. :-)


  4. Doris Says:

    Thanks Allan.

    I read Dave's book on Swing Trading. It was simple, but powerful.

    Looks like he has a lot of information on his site. Thank you.


  5. Allan B Says:

    check out my new blog:

    http://plopino.blogspot.com/

    i'm going to start with a bankroll of $1000 for educational purposes only. :-)


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