Stock to Sell #1 – AK Steel Holding Corp. (AKS)
AK Steel Holding Corp. (NYSE:AKS) is a producer of flat-rolled carbon, stainless and electrical steel products for the automotive, appliance, construction and electrical power industries.
This company is extremely cyclical and lost money in each of the past three years. A strong economy could turn it around, but projections call for more of the same poor results.
Technically the stock has been in a bear market since January 2010. The recent breakdown from a triangle and the stochastic sell indicate that AKS will head further south before making a bottom.