National Steel Company (SID) : Traders are bullish on National Steel Company (SID) as it has outperformed the S&P 500 by a wide margin of 22.77% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.63%, 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 2.06% in the last 1 week, and is up 25.82% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
National Steel Company (NYSE:SID): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $3.48 and $3.41 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $3.50. The buying momentum continued till the end and the stock did not give up its gains. It closed at $3.46, notching a gain of 1.47% for the day. The total traded volume was 835,202 . The stock had closed at $3.41 on the previous day.
The stock has recorded a 20-day Moving Average of 8.62% and the 50-Day Moving Average is 33.93%. Companhia Siderurgica Nacional is up 9.49% in the last 3-month period. Year-to-Date the stock performance stands at 253.06%.
Companhia Siderurgica Nacional (CSN) is a Brazil-based company primarily engaged in the steel industry. The Company divides its business into five segments: Steel sector, which is involved in the production, distribution and marketing of flat steel, galvanized steel and metal packaging; Mining sector, which is active in the production of iron ore; Cement sector, which is involved in the manufacture of cement, as well as in the exploration of limestone and dolomite; Logistics sector, which consists of around two railway companies and a hub port, and Energy sector, which includes investments in energy generation projects to guarantee the Companys self-sufficiency. The Company operates through subsidiaries, such as Companhia Metalurgica Prada, Sepetiba Tecon SA, Florestal Nacional SA, CSN Energia SA, Transnordestina Logistica SA, Estanho de Rondonia SA and CSN Cimentos SA, among others.