Allegheny Technologies Incorporated (ATI) : Traders are bullish on Allegheny Technologies Incorporated (ATI) as it has outperformed the S&P 500 by a wide margin of 27.83% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 17.87%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 17.79% in the last 1 week, and is up 32.12% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 19.77% and the 50-Day Moving Average is 31.11%. Allegheny Technologies Inc. is up 9.75% in the last 3-month period. Year-to-Date the stock performance stands at 60.19%.
Allegheny Technologies Incorporated (NYSE:ATI): On Fridays trading session , Opening price of the stock was $17.87 with an intraday high of $18.07. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $17.53. However, the stock managed to close at $17.81, a loss of 0.50% for the day. On the previous day, the stock had closed at $17.9. The total traded volume of the day was 1,925,258 shares.
Also, Major Brokerage house, Bank of America upgrades its ratings on Allegheny Technologies Incorporated (NYSE:ATI). According to the latest information available, the shares are now rated Buy by the analysts at the agency. Previously, the analysts had a Underperform rating on the shares. The rating by the firm was issued on May 23, 2016.
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.