STEEL DYNAMICS INC (STLD) Technical Analysis
NASDAQ:STLD • US8581191009
We assign a technical rating of 10 out of 10 to STLD. Both in the recent history as in the last year, STLD has proven to be a steady performer, scoring decent points in every aspect analyzed.
- STLD is one of the lesser performing stocks in the Metals & Mining industry. 62% of 157 stocks in the same industry do better.
- Both the short term and long term trends are positive. This is a very positive sign.
- Looking at the yearly performance, STLD did better than 88% of all other stocks. On top of that, STLD also shows a nice and consistent pattern of rising prices.
- 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 1314510 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- In the last month STLD has a been trading in the 185.00 - 208.47 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
STLD has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is very little resistance above the current price. There is a support zone below the current price at 185.25, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
109.89
5 important support areas can be observed.
- A support zone ranging from 182.66 to 185.25. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @179.48 from a trend line in the daily time frame.
- A support zone ranging from 165.22 to 169.26. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @146.37 from a trend line in the weekly time frame.
- Support @111.00 from a horizontal line in the weekly time frame.
When analyzing the resistance we notice one important 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 | UP | POSITIVE | The short term trend for STLD is up. |
| ChartMill Relative Strength | 88.18 | POSITIVE | STLD has a high relative strength, it outperformed 88.18% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of STLD is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of STLD is above 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) | 53.15 | NEUTRAL | The RSI value for STLD is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.68 | NEGATIVE | The MACD value suggests STLD has a negative trend. |
| Stochastics (14,3) | 54.06 | NEUTRAL | The Stochastics value for STLD is a neutral value. |
| Average True Range in percent/ATR (20) | 3.86 | MEDIUM VOLATILITY | The ATR as a percentage value for STLD suggests some volalility. |
| Average Directional Index/ADX (14) | 18.85 | 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 |
|---|---|---|---|
| 194.10 | 187.05 | 7.05 (3.63%) | 25.00% |
| An entry @194.10. This is a Buy Stop order right above the 10 day moving average. | An exit @187.05. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 7.05 points, which is 3.63%. | For a 0.91% total portfolio risk, you can invest 25.00% 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
193.91
-3.54 (-1.79%)
STEEL DYNAMICS INC / STLD FAQ
Can you provide the ChartMill technical rating for STEEL DYNAMICS INC?
ChartMill assigns a technical rating of 10 / 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 53.154. 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 buy as both the short term and long term trends are positive.
Can you provide the support and resistance levels for STEEL DYNAMICS INC?
STEEL DYNAMICS INC (STLD) has a support level at 185.25 and a resistance level at 205.79. Check the full technical report for our detailed analysis of STLD support and resistance levels.