Olympic Steel's 15min chart shows Bollinger Bands narrowing, bearish Marubozu pattern.

According to Olympic Steel's 15-minute chart, a narrowing of Bollinger Bands and a bearish Marubozu pattern have been observed. This suggests that the magnitude of price fluctuations has decreased, and sellers are currently in control of the market. Furthermore, this bearish momentum is likely to persist in the near future.

Olympic Steel's 15-minute chart has exhibited a narrowing of Bollinger Bands and a bearish Marubozu pattern, suggesting a decrease in price volatility and a shift in market control to sellers. These technical indicators, observed on July 2, 2025, indicate a persistent bearish momentum for the near future.

The Bollinger Bands, which measure price volatility, have narrowed significantly, suggesting a decrease in the magnitude of price fluctuations. This narrowing is often associated with a decrease in volatility and can indicate a period of consolidation or a change in market sentiment. The bearish Marubozu pattern, characterized by a series of closing prices at the high of the day, further confirms the sellers' dominance in the market.

Additionally, the company's recent earnings report showed mixed results, with earnings per share (EPS) surpassing analyst expectations by 29% but revenue falling short of forecasts. Despite the earnings beat, the stock price remained stable in after-hours trading, closing at $31.10. KeyCorp has recently reduced its price target for Olympic Steel from $40.00 to $38.00, maintaining an "overweight" rating, suggesting a potential upside of 23.58% from the current price [1].

Investors should closely monitor Olympic Steel's performance and the broader market conditions. While the recent earnings beat provided a positive surprise, the technical indicators and price target reduction from KeyCorp indicate a cautious outlook. It is crucial to stay informed about the company's earnings reports and any developments in the global steel market, which could impact the stock's performance.

References:
[1] https://www.ainvest.com/news/olympic-steel-15min-chart-shows-rsi-overbought-bearish-marubozu-pattern-detected-2508/