Allegheny Technologies Incorporated (ATI) has risen sharply, recording gains of 21.64% in the past 4 weeks. However, the stock has corrected -3.26% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 13.95% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Allegheny Technologies Incorporated (NYSE:ATI): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $14.90 and $14.69 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $15.15. The buying momentum continued till the end and the stock did not give up its gains. It closed at $15.12, notching a gain of 0.93% for the day. The total traded volume was 1,753,113 . The stock had closed at $14.98 on the previous day.
The stock has recorded a 20-day Moving Average of 9.74% and the 50-Day Moving Average is 13.5%. Allegheny Technologies Inc. has dropped 13.54% during the last 3-month period . Year-to-Date the stock performance stands at 36%.
Allegheny Technologies Incorporated is a specialty materials and components producer. The Companys standard products include specialty stainless sheet, stainless steel sheet and stainless steel plate. It operates through two business segments: High Performance Materials & Components and Flat Rolled Products. Its High Performance Materials & Components segment produces, converts and distributes high performance materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, zirconium and related alloys. Its Flat Rolled Products segment produces, converts and distributes stainless steel, nickel-based alloys, specialty alloys, and titanium and titanium-based alloys.