Quick Win By The Algorithm: Increase In Foreign Tariffs on Steel

Quick Win by the Algorithm

AK Steel Holding Corporation (AKS)

On November 8th, 2016, the I Know First algorithm had predicted a bullish forecast for AK Steel Holding Corporation (AKS). AKS had a signal of 86.16 and a predictability of 0.21. In accordance with the algorithm, the company reported long-position capital gains of 27.55%, experiencing a quick win by the algorithm.

Quick Win by the Algorithm

Headquartered in West Chester, Ohio (Greater Cincinnati), AK Steel is a leading producer of flat-rolled carbon and carbon and stainless tubular products, primarily for automotive, infrastructure and manufacturing, construction and electrical power generation and distribution markets. The company is headquartered in West Chester, Ohio (Greater Cincinnati), and operates eight steel plants, two coke plants and two tube manufacturing plants across six states (Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia) and one tube plant in Mexico.

Quick Win by the Algorithm

Due to the U.S. Trade Regulators beginning to add heavy tariffs on Chinese steel, AKS is up in the market. Domestic steel manufacturers can now compete within the country because they don’t have a flooded market of cheap Chinese steel. Tariffs were raised on Chinese steel due to the loophole they created, shipping their steel through Vietnam to avoid the antidumping tariffs. As a domestic steel producer in the U.S. this would greatly help increase its top-line as AKS may become a cheaper alternative than similar producers in China.

This bullish forecast on AKS was sent to current I Know First subscribers on November 8th, 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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