STEEL DYNAMICS INC (STLD) Stock Technical Analysis
USA - NASDAQ:STLD - US8581191009 - Common Stock
144.39 USD
+3.39 (+2.4%)
144.39 USD
0 (0%)
Taking everything into account, STLD scores 8 out of 10 in our technical rating. Although STLD is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
STLD is part of the Metals & Mining industry. There are 156 other stocks in this industry, of which 66% are performing better than STLD.
Both the short term and long term trends are positive. This is a very positive sign.
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.
In the last month STLD has a been trading in the 129.41 - 145.04 range, which is quite wide. It is currently trading near the high of this range.
STLD has an average volume of 1288010 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the performance of all stocks over the past year, STLD turns out to be only a medium performer in the overall market: it outperformed 68% of all stocks.
Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
Besides having an excellent technical rating, STLD also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 148.23. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 136.78, a Stop Loss order could be placed below this zone.
More info and screens
109.89
150.05
4 important support areas can be observed.
- A support zone ranging from 134.16 to 136.78. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 127.58 to 131.19. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 123.07 to 123.07. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 111.00 to 111.93. This zone is formed by a combination of multiple trend lines in multiple time frames.
We found 1 important resistance area.
- A resistance zone ranging from 148.23 to 148.56. This zone is formed by a combination of multiple trend lines 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 | 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 | 68.6 | NEUTRAL | STLD is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of STLD is above 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) | 66.89 | NEUTRAL | The RSI value for STLD is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.44 | POSITIVE | The MACD value suggests STLD has a positive trend. |
| Stochastics (14,3) | 89.62 | OVERBOUGHT | The high Stochastics value suggests STLD may be overbought. |
| Average True Range in percent/ATR (20) | 2.83 | MEDIUM VOLATILITY | The ATR as a percentage value for STLD suggests some volalility. |
| Average Directional Index/ADX (14) | 21.62 | NEUTRAL | The ADX value for STLD suggests a possible start of a new 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 |
|---|---|---|---|
| 148.57 | 134.86 | 13.71 (9.23%) | 10.84% |
| An entry @148.57. This is a Buy Stop order right above the resistance zone. | An exit @134.86. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 13.71 points, which is 9.23%. | For a 1.00% total portfolio risk, you can invest 10.84% 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.
144.39
+3.39 (+2.4%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorMaterials
GICS IndustryMetals & Mining
Performance
% Chg2.4%
1 Week6.1%
2 Weeks3.25%
1 Month10.34%
3 Month8.37%
6 Month32.21%
12 Month12.61%
2 Year35.56%
3 Year53.52%
5 Year358.67%
10 Year681.75%
15 Year893.05%
Volatility
ATR(14)4.06
ATR(20)%2.83%
ATR Inc-2.48%
Range Today4.26
ADR(20)3.84
ADR(20)%2.66%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS68.6
Mansfield-0.03
10 Day High145.04
10 Day Low134.87
20 Day High145.04
20 Day Low129.41
52 Week High155.56
52 Week Low103.17
CS1 End136.78
CR1 Start148.23
Volume & EV
DER(3)-3.4%
DER(5)-2.22%
Volume1.30M
Volume Incr-6.82%
Vol(5)1.23M
Vol(50)1.29M