STEEL DYNAMICS INC (STLD) Technical Analysis
NASDAQ:STLD • US8581191009
We assign a technical rating of 7 out of 10 to STLD. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.
- STLD is one of the lesser performing stocks in the Metals & Mining industry. 63% of 157 stocks in the same industry do better.
- In the last month STLD has a been trading in the 175.01 - 208.47 range, which is quite wide. It is currently trading near the lows of this range.
- When comparing the yearly performance of all stocks, we notice that STLD is one of the better performing stocks in the market, outperforming 84% of all stocks.
- STLD 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 STLD is lagging the market slightly.
- STLD has an average volume of 1288060 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- The long term trend is positive and the short term trend is negative. It is probably better to wait until this picture becomes clearer.
Besides having an excellent technical rating, STLD also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price. There is a support zone below the current price at 181.60, a Stop Loss order could be placed below this zone.
More info and screens
109.89
We found 2 important support areas.
- A support zone ranging from 181.38 to 181.60. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @111.00 from a horizontal line in the weekly time frame.
We found 1 important resistance area.
- Resistance @205.79 from a horizontal line in the daily 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 | UP | POSITIVE | The long term trend for STLD is up. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for STLD is down. |
| ChartMill Relative Strength | 84.95 | POSITIVE | STLD has a high relative strength, it outperformed 84.95% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of STLD is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | MIXED | The current price of STLD is below the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of STLD is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 44.69 | NEUTRAL | The RSI value for STLD is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -2.13 | NEGATIVE | The MACD value suggests STLD has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 29.63 | NEUTRAL | The Stochastics value for STLD is a neutral value. |
| Average True Range in percent/ATR (20) | 3.96 | MEDIUM VOLATILITY | The ATR as a percentage value for STLD suggests some volalility. |
| Average Directional Index/ADX (14) | 18.29 | NEGATIVE | The low ADX value for STLD suggests a weak or negative trend. |
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 |
|---|---|---|---|
| 189.90 | 181.37 | 8.53 (4.49%) | 22.26% |
| An entry @189.90. This is a Buy Stop order right above the 10 day moving average. | An exit @181.37. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 8.53 points, which is 4.49%. | For a 1.00% total portfolio risk, you can invest 22.26% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of STLD. Please evaluate whether better entry and exit points can be found.
- 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.
STLD Technicals: Chart, Performance Metrics, Trend & Indicators
184.26
+2.07 (+1.14%)
STEEL DYNAMICS INC / STLD FAQ
Can you provide the ChartMill technical rating for STEEL DYNAMICS INC?
ChartMill assigns a technical rating of 7 / 10 to STLD.
What is the current trend direction of STEEL DYNAMICS INC (STLD) stock?
The current trend direction for STEEL DYNAMICS INC (STLD) is Bullish.
Can you provide the RSI signal for STEEL DYNAMICS INC?
STEEL DYNAMICS INC (STLD) has an RSI value of 44.6921. This indicates that the stock is currently neutral.
What is the buy/sell signal for STLD stock?
The buy/sell signal for STEEL DYNAMICS INC (STLD) is hold as the short term and long term trends are mixed.
Can you provide the support and resistance levels for STEEL DYNAMICS INC?
STEEL DYNAMICS INC (STLD) has a support level at 181.6 and a resistance level at 205.79. Check the full technical report for our detailed analysis of STLD support and resistance levels.