SCHNITZER STEEL INDS INC-A (SCHN) Technical Analysis
NASDAQ:SCHN • US8068821060
Current stock price
SCHN Technical Rating and Analysis
Overall SCHN gets a technical rating of 6 out of 10. 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.
- SCHN is one of the lesser performing stocks in the Metals & Mining industry. 62% of 163 stocks in the same industry do better.
- 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.
- Considerably lower volume is observed in the last couple of days.
SCHN Weekly and Daily overview Charts
SCHN Setup Rating and Analysis
SCHN has only a medium technical rating, but it does show a decent setup pattern. 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
SCHN Support and Resistance Analysis
27.47
We found 5 important support 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.
When analyzing the resistance we notice 2 important 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.
SCHN Technical Indicator Signal Analysis
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. |
SCHN Chart- and CandleStick Pattern Analysis
SCHN Example Setup
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%. | When investing 22.12% of your capital in this trade, your total portfolio risk will be 1.00%. |
- 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.
SCHN Technicals: Chart, Performance Metrics, Trend & Indicators
33.2
-0.19 (-0.57%)
SCHNITZER STEEL INDS INC-A / SCHN TA FAQ
What is the technical rating for SCHN stock?
ChartMill assigns a technical rating of 6 / 10 to SCHN.
What is the current trend direction of SCHNITZER STEEL INDS INC-A (SCHN) stock?
The current trend direction for SCHNITZER STEEL INDS INC-A (SCHN) is Bullish.
What is the RSI signal for SCHN stock?
SCHNITZER STEEL INDS INC-A (SCHN) has an RSI value of 57.5489. This indicates that the stock is currently neutral.
What is the MACD signal for SCHN stock?
The MACD indicator for SCHNITZER STEEL INDS INC-A (SCHN) has a value of 0.109858, indicating a bearish trend.
What is the buy/sell signal for SCHNITZER STEEL INDS INC-A (SCHN) stock?
The buy/sell signal for SCHNITZER STEEL INDS INC-A (SCHN) is buy as both the short term and long term trends are positive.