PKX Price Prediction Next Week
Technical Analysis: PKX has shown significant weakness recently, with the stock dropping from $85.08 to $40.62, representing a steep decline. The stock is currently trading below all major moving averages, indicating a strong bearish trend.
News Impact: Recent news has been predominantly negative:
- Trump's announcement of new 25% tariffs on steel imports caused PKX shares to fall 3.6% to their lowest level since October 2022
- The broader steel sector is facing headwinds due to trade tensions
- However, Validea's Value Investor model upgraded PKX from 71% to 86% rating, suggesting strong fundamentals despite price pressure
Price Prediction for Next Week: Based on technical indicators and recent news:
- Resistance level: $42.95 (recent high)
- Support level: $40.62 (current price)
- Target price range: $38.50 - $41.00
Trading Recommendation: SELL Rationale:
- Negative momentum from tariff news
- Breaking below key support levels
- High probability of continued downward pressure from trade tensions
- Optimal selling point would be any bounce toward $41.50-42.00 range
Price Targets:
- Short-term downside target: $38.50
- Stop-loss level (if holding): $43.25
The combination of technical weakness and fundamental headwinds suggests further downside potential in the coming week. The impact of new tariffs could continue to pressure the stock price, making it advisable to avoid new long positions or reduce existing exposure.
PKX Similar Chart Price Prediction
The price of PKX is predicted to go up -0.72%, based on the high correlation periods with RTX. The similarity of these two price pattern on the periods is 95.17%.
PKX
RTX
Down: -0.72%Similarity: 95.17%
