6 reasons I like AK Steel for a long trade

I bought AK Steel shares at the end of the day after some heavy call volume flashed.  It's a trade I might hold for a few days or a few weeks.  Here are sixe reasons I like it:

1.  It tried, but failed to break support on a 'terrible' outlook.  Note the yellow candle.

2.  There is recent emerging strength in the group X, CLF etc.

3.  RSI has improved while the stock has based

4.  A test of the falling 50 day moving average failed to knock the stock to new lows.

5.  The downtrend from last August has ended.

6.  Late day buyers attacked the 4.5 strike in 3 different weeks of April calls.

My plan is to trade it against Tuesday's low of 4.05.  The first target area is the February high around 4.70-4.90.  I'm not recommending you do the same, but I thought some folks might like a look at my thought process.

Thanks for reading!  Trade 'em well