VANECK STEEL ETF (SLX) Stock Technical Analysis
USA - NYSEARCA:SLX - US92189F2056 - ETF
71.86 USD
-0.45 (-0.62%)
Taking everything into account, SLX scores 8 out of 10 in our technical rating. Although SLX is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
Warning: SLX has an average volume of 27416 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.
Both the short term and long term trends are positive. This is a very positive sign.
SLX is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
In the last month SLX has a been trading in the 69.12 - 73.52 range, which is quite wide. It is currently trading near the high of this range.
Prices have been consolidating recently, this may present a good entry opportunity.
Considerably lower volume is observed in the last couple of days, which is a good thing during a pullback.
When compared to the yearly performance of all other stocks, SLX outperforms 51% of them, which is more or less in line with the market.
SLX is part of the Automobile Components industry. There are 81 other stocks in this industry, SLX did better than 43% of them.
SLX has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry.
More info and screens
66.06
74.91
We found 3 important support areas.
- A support zone ranging from 69.98 to 71.48. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @68.58 from a horizontal line in the daily time frame.
- A support zone ranging from 66.73 to 66.97. This zone is formed by a combination of multiple trend lines in multiple time frames.
2 important resistance areas can be observed.
- A resistance zone ranging from 72.11 to 72.62. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 74.16 to 74.17. 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 SLX is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for SLX is up. |
| ChartMill Relative Strength | 51.6 | NEUTRAL | SLX is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of SLX is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of SLX is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of SLX is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 54.1 | NEUTRAL | The RSI value for SLX is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests SLX has a negative trend. |
| Stochastics (14,3) | 66.23 | NEUTRAL | The Stochastics value for SLX is a neutral value. |
| Average True Range in percent/ATR (20) | 1.34 | LOW VOLATILITY | The low ATR as a percentage value for SLX suggests low volalility. |
| Average Directional Index/ADX (14) | 18.14 | NEGATIVE | The low ADX value for SLX 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 |
|---|---|---|---|
| 72.63 | 70.73 | 1.90 (2.62%) | 25.00% |
| An entry @72.63. This is a Buy Stop order right above the resistance zone. | An exit @70.73. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 1.90 points, which is 2.62%. | For a 0.65% total portfolio risk, you can invest 25.00% 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.
NYSEARCA:SLX (9/23/2025, 8:12:55 PM)
71.86
-0.45 (-0.62%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorConsumer Discretionary
GICS IndustryAutomobile Components
Performance
% Chg-0.62%
1 Week-1.36%
2 Weeks2.35%
1 Month1.1%
3 Month8.01%
6 Month16.15%
12 Month1.43%
2 Year9.59%
3 Year50.49%
5 Year132.56%
10 Year232.53%
15 Year14.05%
Volatility
ATR(14)1.08
ATR(20)%1.34%
ATR Inc-9.8%
Range Today1.36
ADR(20)0.85
ADR(20)%1.18%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS51.6
Mansfield-0.09
10 Day High73.52
10 Day Low70.74
20 Day High73.52
20 Day Low69.12
52 Week High74.33
52 Week Low51.69
CS1 End71.48
CR1 Start72.11
Volume & EV
DER(3)-1.75%
DER(5)-0.89%
Volume8.90K
Volume Incr-37.18%
Vol(5)12.62K
Vol(50)27.42K