Overall market sentiment has been high on Companhia Siderurgica Nacional (SID) stock lately. SID receives a Bullish rating from InvestorsObserver's Stock Sentiment Indicator.
Companhia Siderurgica Nacional has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on SID!
What is Stock Sentiment?
When making investment decisions, sentiment gives a good overview of what stocks investors currently favor. Sentiment incorporates short-term technical analysis into its score and does not encompass any fundamental analysis such as profitability of the company. This means that earnings updates and other news can greatly impact overall sentiment.
Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor.
InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon.
The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.
What's Happening With SID Stock Today?
Companhia Siderurgica Nacional (SID) stock is trading at $1.86 as of 10:50 AM on Friday, May 29, a gain of $0.12, or 6.61% from the previous closing price of $1.74. The stock has traded between $1.82 and $1.93 so far today. Volume today is light. So far 1,071,104 shares have traded compared to average volume of 2,204,733 shares.
To see InvestorsObserver's Sentiment Score for Companhia Siderurgica Nacional click here.
More About Companhia Siderurgica Nacional
Companhia Siderurgica Nacional is an integrated steel producer. The company operates in five segments namely, Steel, Mining, Logistics, Energy and Cement. The product includes iron ore, limestone, dolomite and tin mines, flat steel, and port terminal.
