TMCnet News
Downgrade Alert for Allegheny Technologies (ATI)Oct 25, 2012 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Allegheny Technologies (NYSE:ATI) was downgraded from Overweight to Neutral at JP Morgan today. The stock closed yesterday at $27.97 on volume of 5.0 million shares, above average daily volume of 1.5 million. Potential upside of 78.4% exists for Allegheny Technologies, based on a current level of $27.97 and analysts' average consensus price target of $49.89. Allegheny Technologies shares should first meet resistance at the 50-day moving average (MA) of $32.08 and find additional resistance at the 200-day MA of $37.01. Over the past year, Allegheny Technologies has traded in a range of $27.61 to $53.00 and closed yesterday at $27.97, 1% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has slid 1.1%. Allegheny Technologies, Inc., produces specialty materials. The Company's products include include titanium and titanium alloys, nickel-based alloys and superalloys, zirconium, hafnium and niobium, stainless and specialty steel alloys, grain-oriented electrical steel, tungsten-based materials and cutting tools, carbon alloy impression die forgings, and large grey and ductile iron. SmarTrend recommended that its subscribers protect gains by selling shares of Allegheny Technologies on September 20th, 2012 by issuing a Downtrend alert when the shares were trading at $33.18. Since that call, shares of Allegheny Technologies have fallen 15.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |