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09:50 EDTSCHN
theflyonthewall.com: Schnitzer Steel stock levels to watch
The stock is down following earnings and is not being helped by the negative sentiment in United States Steel Corporation (X). The big support coming up fast is the 200-day moving average, last at $47.14. It is a probable downside test objective. In the event of a breakdown below the 200-day, the following support levels could become additional downside objectives: $46.38, $45.10, $44.17, $42.98, $42.19. Resistance is currently at $49.26, $50.18. :theflyonthewall.com



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February 2, 2010
10:47 EDTSCHN
theflyonthewall.com: Schnitzer Steel nears resistance following upgrade
UBS earlier upgraded the stock to Buy, and placed a $50 price target on the shares. The stock is currently up over 4.5%. Next resistance for the shares is at the 10-day moving average, last at $44.54. If the stock can break above this downtrend resistance proxy, it will have begun a new short-term bullish trend. A failure to do so would leave the shares in a downtrend. Resistance levels to watch as potential upside objectives above the 10-day moving average are at $45.10, $46.38, $47.18. Support is at $42.98. :theflyonthewall.com
09:00 EDTSCHN
theflyonthewall.com: On The Fly: Analysts Upgrade Summary

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06:42 EDTSCHN
theflyonthewall.com: Schnitzer Steel upgraded to Buy from Neutral at UBS

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