National Steel Company (SID) has been under a strong bear grip, hence the stock is down -4.64% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 3.59% in the past 1 week. The stock has risen by 3.76% in the past week indicating that the buyers are active at lower levels, but the stock is down -5.15% in the past 4 weeks.
The stock has recorded a 20-day Moving Average of 3.51% and the 50-Day Moving Average is 7.09%.The 200 Day SMA reached 24.33%
National Steel Company (NYSE:SID): After opening at $2.77, the stock dipped to an intraday low of $2.71 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $2.8 and the buying power remained strong till the end. The stock closed at $2.76 for the day, a gain of 0.36% for the day session. The total traded volume was 1,557,934. The stocks close on the previous trading day was $2.76.
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.