Quick Win by the Algorithm

On November 9, 2016, the I Know First algorithm had predicted a bullish forecast for AK Steel Holding Corporation (AKS). AKS had a signal of 99.40 and a predictability of 0.37. In accordance with the algorithm, the company reported long-position capital gains of 51.23% experiencing a quick win by the algorithm.

AK Steel Holding Corporation (AKS), produces carbon, stainless and electrical flat-rolled steel for automotive, infrastructure, manufacturing and other markets, as well as carbon and stainless tubing for truck, automotive, and other markets. Facilities include blast furnace, electric furnace and tubing operations in Ohio, Kentucky, Pennsylvania, and Indiana.

AK Steel Holding Corporation raised their price target on 10/31/16 and according to 13 analysts share price will reach $6.10 with standard deviation of $1.70. The stock’s minimum price target has been estimated at $4 and the maximum price target is forecasted to be $8, so there is possibility for a 41% increase from its latest closing price of $5.69.

President-Elect Trump’s new policies to bring back manufacturing jobs are fueling the steel industry to grow at unprecedented rate. Another policy that will help grow the industry is updates on infrastructure. Trump also plans on raising tariffs on steel imports from China because they’ve been illegally dumping their metals. China realized a loopwhole in which they move their metals through Vietnamese channels. These reasons are creating a perfect storm for the steel industry and this shift directly correlates to the stock price increase recently. As long as the policies are set in place by the new President and Chinese steel is limited in the United States, all of the steel companies, AKS included, will benefit and prosper.

This bullish forecast on AKS was sent to current I Know First subscribers on November 9, 2016. 

Before making any trading decisions, consult the latest forecast as the algorithm constantly updates predictions daily. While the algorithm can be used for intra-day trading the predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.

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