Cia Siderurgica Nacional Shares Climbing Higher, Up 1.5%

Published on Fri, 03/08/2013 - 13:29
By Robert Cotter in Market movers, SID, cia siderurgica nacional, market movers, nyse:sid

Up 1.5% to $5.42, Cia Siderurgica Nacional (NYSE:SID), is one of today's notable movers. The Dow is up 0.2% to 14,359 and the S&P is currently trading fractionally higher to 1,547.

Companhia Siderurgica Nacional S.A. (CSN) manufactures iron and steel in Brazil. The Company operates mines, an integrated steel mill, service centers, ports, and railroads. CSN manufactures and distributes hot-rolled, cold-rolled, and galvanized steel products to the automobile, auto parts, civil construction, electrical equipment, and packaging industries.

Potential upside of 15.9% exists for Cia Siderurgica Nacional, based on a current level of $5.42 and analysts' average consensus price target of $6.28. Cia Siderurgica Nacional shares should first meet resistance at the 200-day moving average (MA) of $5.54 and find additional resistance at the 50-day MA of $5.55.

Over the past year, Cia Siderurgica Nacional has traded in a range of $4.43 to $10.87 and is now at $5.42, 22% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.8% while the 200-day MA has slid 0.6%.

By Robert Cotter
rcotter@fnno.com

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