AK Steel Shares Moving Through Positive Trading Channel

6/9 - "AK Steel Holding Corporation (NYSE: AKS) produces carbon, stainless and electrical steel products...The stock is up 30% so far in Q2, on word of a solid Q1 earnings report (4/22) and several successful price increases/surcharge levies. The firm said that soaring global steel prices and favorable labor contracts have enabled it to boost profits beyond expectations. Analysts have pointed to expansion in developing economies and historically low levels of inventory as the factors fueling demand.'

"The news has kept AKS shares cycling through a positive ten-week trading channel. The price is rebounding from the base of that channel, suggesting the potential for a rise back toward the top."

"Over the past 52 weeks, the stock has traded between $27.90 and $73.07. A stop-loss of $61.50 looks good here."