SCHNITZER STEEL INDS INC-A (SCHN) Stock Technical Analysis
NASDAQ:SCHN - Nasdaq - US8068821060 - Common Stock - Currency: USD
We assign a technical rating of 6 out of 10 to SCHN. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, SCHN is only an average performer.
Both the short term and long term trends are positive. This is a very positive sign.
SCHN is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so SCHN is lagging the market slightly.
In the last month SCHN has a been trading in the 31.02 - 34.34 range, which is quite wide. It is currently trading near the high of this range.
Looking at the yearly performance, SCHN did better than 74% of all other stocks. However, this overall good ranking is mostly due to the recent strong move.
SCHN is an average performer in the Metals & Mining industry, it outperforms 43% of 154 stocks in the same industry.
Considerably lower volume is observed in the last couple of days.
Although the technical rating is only medium, SCHN does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 34.34. Right above this resistance zone may be a good entry point. We notice that large players showed an interest for SCHN in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
More info and screens
27.47
36.58
When analyzing the support we can see 5 important areas.
- Support @33.17 from a trend line in the weekly time frame.
- A support zone ranging from 31.86 to 32.29. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 31.28 to 31.29. This zone is formed by a combination of multiple trend lines in the daily time frame.
- A support zone ranging from 28.32 to 28.55. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @27.75 from a horizontal line in the weekly time frame.
We can see 2 important resistance areas.
- A resistance zone ranging from 34.34 to 34.72. This zone is formed by a combination of multiple trend lines in the weekly time frame.
- A resistance zone ranging from 35.64 to 36.22. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for SCHN is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for SCHN is up. |
| ChartMill Relative Strength | 74.13 | POSITIVE | SCHN has a high relative strength, it outperformed 74.13% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of SCHN is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of SCHN is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of SCHN is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 57.55 | NEUTRAL | The RSI value for SCHN is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.11 | POSITIVE | The MACD value suggests SCHN has a positive trend. |
| Stochastics (14,3) | 87.58 | OVERBOUGHT | The high Stochastics value suggests SCHN may be overbought. |
| Average True Range in percent/ATR (20) | 2.76 | MEDIUM VOLATILITY | The ATR as a percentage value for SCHN suggests some volalility. |
| Average Directional Index/ADX (14) | 13.64 | NEGATIVE | The low ADX value for SCHN suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 34.73 | 33.16 | 1.57 (4.52%) | 22.12% |
| An entry @34.73. This is a Buy Stop order right above the resistance zone. | An exit @33.16. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 1.57 points, which is 4.52%. | For a 1.00% total portfolio risk, you can invest 22.12% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
33.2
-0.19 (-0.57%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorMaterials
GICS IndustryMetals & Mining
Performance
% Chg-0.57%
1 Week5.67%
2 Weeks3.23%
1 Month-2.78%
3 Month8.46%
6 Month-6.85%
12 Month2.88%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.86
ATR(20)%2.76%
ATR Inc-5.1%
Range Today0.79
ADR(20)N/A
ADR(20)%N/A
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS74.13
Mansfield-0.41
10 Day High33.92
10 Day Low31.13
20 Day High34.35
20 Day Low31.02
52 Week High36.64
52 Week Low25.96
CS1 End33.17
CR1 Start34.34
Volume & EV
DER(3)4.39%
DER(5)4.74%
Volume84.50K
Volume Incr-29.46%
Vol(5)116.94K
Vol(50)201.74K