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Tuesday, March 27, 2012

Basic Material Stocks Fall (ZOLT) (GOLD) (MTL) (KGC) (MUSA)

Zoltek Companies, Inc. (NASDAQ: ZOLT): fell by 3.76% or $-0.4/share to $10.24. In the past year, the shares have traded as low as $5.60 and as high as $15.01. On average, 470115 shares of ZOLT exchange hands on a given day and today's volume is recorded at 191197. The shares are currently trading below the 50-day moving average but above the 200-day moving average. The stock may be range bound between these two levels where the 50-day moving average of $11.81 represents resistance and the 200-day moving average of $8.65 would be an area of support.

Randgold Resources Ltd (NASDAQ: GOLD): fell by 2.37% or $-2.17/share to $89.45. In the past year, the shares have traded as low as $73.10 and as high as $120.73. On average, 659790 shares of GOLD exchange hands on a given day and today's volume is recorded at 477781. The shares are currently trading below the 200-day moving average which indicates that the shares have been suffering from downward momentum lately. The stock may bounce higher to test the 200-day moving average, so look for a move up to the $107.72 area where the stock may encounter resistance.

Mechel OAO (ADR) (NYSE: MTL): fell by 2.06% or $-0.205/share to $9.74. In the past year, the shares have traded as low as $7.76 and as high as $32.20. On average, 3120130 shares of MTL exchange hands on a given day and today's volume is recorded at 1355742. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $10.74 area but be careful because the stock may face selling pressure at this level.

Kinross Gold Corp. (USA) (NYSE: KGC): fell by 2.25% or $-0.23/share to $9.98. In the past year, the shares have traded as low as $9.71 and as high as $18.25. On average, 9309250 shares of KGC exchange hands on a given day and today's volume is recorded at 7080274. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $10.72 area but be careful because the stock may face selling pressure at this level.

Metals USA Holdings Corp (NYSE: MUSA): traded higher by 0.07% or $0.01/share to $14.13. In the past year, the shares have traded as low as $7.77 and as high as $17.14. On average, 141035 shares of MUSA exchange hands on a given day and today's volume is recorded at 21185. The shares are currently trading above the 50-day moving average which indicates that the shares have been experiencing strong upward momentum as the 50 DMA is above the 200 DMA. The stock may come back down to test the 50-day moving average, so look for a move back to the $13.45 area where the stock will likely see buying pressure.