Written on Mon, 06/24/2013 - 10:48am By James Quinn Shares of POSCO (NYSE:PKX) traded at a new 52-week low today of $62.30. So far today approximately 127,000 shares have been exchanged, as compared to an average 30-day volume of 214,000 shares.
POSCO manufactures various types of steel products. The Company produces hot rolled steel, cold rolled steel, stainless steel, and other forms of steel. The products are mainly used for automobile, construction, and shipbuilding industries.
In the past 52 weeks, shares of POSCO have traded between the current low of $62.30 and a high of $87.04 and are now at $62.40. The 200-day and 50-day moving averages have moved 0.47% lower and 0.33% lower over the past week, respectively.
POSCO has overhead space with shares priced $62.40, or 38.4% below the average consensus analyst price target of $101.25. The stock should find initial resistance at its 50-day moving average (MA) of $71.12 and further resistance at its 200-day MA of $77.23.
SmarTrend is monitoring the recent change of momentum in POSCO. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of POSCO in search of a potential trend change.
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