Should You Buy Algoma Steel Group Inc (ASTL) Stock on Monday?

The market has been high on Algoma Steel Group Inc (ASTL) stock recently. ASTL gets a Bullish score from InvestorsObserver Stock Sentiment Indicator.

Algoma Steel Group Inc has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on ASTL!

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What is Stock Sentiment?

Sentiment is a very short-term indicator that is entirely technical. There is no information about the health of profitability of the underlying company in our sentiment score. As a technical indicator, news about the stock, or company, such as an earnings release or other event, could move the stock counter to the recent trend. Recent trends are a good indicator of current market sentiments. In its most basic form, stocks that are trending up are desirable by investors while stocks currently falling must be unattractive. InvestorsObserver's Sentimental Indicator tracks both changes in price and volume to analyze the most recent trends. Typically an increase in volume indicates ongoing trends are getting stronger, while a decrease in volume usually signals an end to the current trend. Available options can also represent current sentiments for a given stock. Since investors are able to bet on future trends of stocks using options, we consider the ratio of calls to puts when analyzing market sentiments .

What's Happening With ASTL Stock Today?

Algoma Steel Group Inc (ASTL) stock is trading at $8.58 as of 9:50 AM on Monday, Apr 1, an increase of $0.09, or 1.06% from the previous closing price of $8.49. The stock has traded between $8.55 and $8.84 so far today. Volume today is low. So far 90,192 shares have traded compared to average volume of 565,957 shares.

More About Algoma Steel Group Inc

Algoma Steel Group Inc is a Canadian company that produces clean and consistent light gauge steel in North America, offering a range of hot and cold rolled steel sheet and plate products. The firm operates in a single segment of basic steel production. Geographically it serves Canada, the United States and the rest of the world, whilst driving key revenue from domestic sales. Substantial revenue is generated from the sale of Steel sheets and strips. Click Here to get the full Stock Report for Algoma Steel Group Inc stock.