At least ATI stock price gives you time to buy at this current range. It is not like you have to buy asap or you will lose a deal. The stock price has come down so much in the last several months. This is what happens with these cyclical industrial/metal stocks. You have to have patience and discipline to hang in there, especially with all the noise and negativity that circulates. Fear rules the ignorant and the fearful and they are long gone. That's why I don't think ATI will go down that much from here, maybe high to mid 20's the most, unless a major catastrophe happens. The shake out has already happened in my eyes, it depends now on what price you want it -35, 32, 30, 29, 28. Then you have to have patience and pretty well disciplined to wait it out. What's that saying, "buy low, sell high?"
I stand by my above opinions. I think it may even go lower, that's even better. If you can prove to me something structural is wrong with ATI, then I would change my opinion. What's happening is out of there hands and in general, the sectors hands. This is what happens when you play with these types of companies, you got to be strong or you should invest in something else. When ATI is going well, along with the economy, nothing better to be in.
I don't try to pick bottoms, but it sure looks like it's about there to me. Draw a trend line on a monthly chart. It's almost at the line. I had a position and sold on the earning release. Saved myself a few thousand $'s. I'm going to jump back in if it hits that trend line (right around 25) with a fairly tight stop. If there is any kind of improvement out of Europe, China, or the U.S., this thing is going to pop big time. JMHO
This stock has been on a major downtrend since April, 2011. That is one and one half years. Today, it is down over 10%. Compare that to the market as a whole. ATI has not been this low since July, 2009 - three years ago. Something is wrong with ATI, and I suspect it may be time for a change at the top.