AK Steel Surrenders Early Gains After Q1 Beat

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AK Steel Holding Corporation AKS shares are trading lower by $0.12 (2.4 percent) at $7.00 in Tuesday's session. Before the open, the company reported a Q1 beat of a nickel along with a revenue beat of $70 million.

The report instigated a higher open that only went another $0.09 to $7.54 before reversing course. That high was just shy of the pair of highs from April 7 ($7.69) and April 10 ($7.70).

So far, the ensuing decline has found support just ahead of Monday's low ($6.85), only reaching $6.87 as of 10:43 a.m. EST. If the decline continues, there may be additional support at Friday 's low of $6.60 as well as its April 20 low of $6.41.

Posted In: TechnicalsIntraday UpdateMoversTrading Ideas
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