Will there be a tumble for AKS?
We picked up this stock as a short candidate as a contrarian pick from one of the message boards. This was spoken of as a hot stock and we decided to analyze it. And needless to say, it looks like a good short candidate. Note the following divergences marked on the chart:
- RSI divergence.
- MACD divergence, though this indicates a potential danger as well. We will monitor this and weakness will be used to add fresh shorts.
A good price to initiate a fresh short is at 37.5.
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