VANECK STEEL ETF (SLX) Stock Technical Analysis
NYSEARCA:SLX - NYSE Arca - US92189F2056 - ETF - Currency: USD
We assign a technical rating of 5 out of 10 to SLX. SLX has been a bad performer in the overall market. Some doubts are observed in the medium term time frame, but recent action was again very positive.
When comparing the yearly performance of all stocks, SLX is a bad performer in the overall market: 67% of all stocks are doing better.
SLX is part of the Automobile Components industry. There are 81 other stocks in this industry, of which 65% are performing better than SLX.
Warning: SLX has an average volume of 13040 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.
SLX is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.
The long and short term trends are both neutral. This gives a pretty neutral overall picture!
SLX is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so SLX is lagging the market slightly.
SLX has an average technical rating and also the quality of the setup is only medium at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
60.13
74.91
We found 1 important support area.
- A support zone ranging from 60.74 to 62.13. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
3 important resistance areas can be observed.
- A resistance zone ranging from 63.05 to 64.80. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @72.62 from a horizontal line in the weekly time frame.
- Resistance @74.17 from a horizontal line in the weekly time frame.
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 | NEUTRAL | NEUTRAL | The long term trend for SLX is neutral. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for SLX is neutral. |
| ChartMill Relative Strength | 33.88 | 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) | DOWN | NEGATIVE | The current price of SLX is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 53.21 | NEUTRAL | The RSI value for SLX is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.09 | NEGATIVE | The MACD value suggests SLX has a negative trend. |
| Stochastics (14,3) | 42.86 | NEUTRAL | The Stochastics value for SLX is a neutral value. |
| Average True Range in percent/ATR (20) | 1.61 | LOW VOLATILITY | The low ATR as a percentage value for SLX suggests low volalility. |
| Average Directional Index/ADX (14) | 13.62 | 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)
NYSEARCA:SLX (5/23/2025, 8:56:04 PM)
62.1824
+0.49 (+0.8%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorConsumer Discretionary
GICS IndustryAutomobile Components
Performance
% Chg0.8%
1 Week-2.07%
2 Weeks1.22%
1 Month3.36%
3 Month-1.01%
6 Month-12.28%
12 Month-13.29%
2 Year11.75%
3 Year-1.05%
5 Year138.7%
10 Year88.15%
15 Year9.23%
Volatility
ATR(14)0.9
ATR(20)%1.61%
ATR Inc-7.26%
Range Today1.02
ADR(20)0.8
ADR(20)%1.28%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS33.88
Mansfield-0.55
10 Day High64.08
10 Day Low61.37
20 Day High64.08
20 Day Low59.09
52 Week High74.33
52 Week Low51.69
CS1 End62.13
CR1 Start63.05
Volume & EV
DER(3)-8.34%
DER(5)-6.81%
Volume9.00K
Volume Incr118.71%
Vol(5)18.12K
Vol(50)13.04K