We assign a technical rating of 10 out of 10 to STLD. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, STLD is showing a nice and steady performance.
Although STLD has an excellent technical rating, the quality of the presented setup is not ideal 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
109.89
6 important support areas can be observed.
- A support zone ranging from 154.85 to 156.21. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 151.61 to 151.93. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 134.84 to 137.08. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @128.52 from a horizontal line in the daily time frame.
- Support @123.07 from a horizontal line in the daily time frame.
- Support @111.00 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 | 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 | 90.09 | POSITIVE | STLD has a high relative strength, it outperformed 90.09% off all stocks 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) | 68.24 | NEUTRAL | The RSI value for STLD is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.31 | POSITIVE | The MACD value suggests STLD has a positive trend. |
| Stochastics (14,3) | 83.61 | OVERBOUGHT | The high Stochastics value suggests STLD may be overbought. |
| Average True Range in percent/ATR (20) | 2.64 | MEDIUM VOLATILITY | The ATR as a percentage value for STLD suggests some volalility. |
| Average Directional Index/ADX (14) | 40.54 | POSITIVE | The high ADX value value for STLD suggests a strong trend. |
173.01
+1.78 (+1.04%)
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.
Can you provide the trend direction for STEEL DYNAMICS INC?
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 68.2385. This indicates that the stock is currently neutral.
What is the short term momentum for STEEL DYNAMICS INC (STLD) stock?
The short term momentum for STEEL DYNAMICS INC (STLD) is positive.
What are the support and resistance levels for STEEL DYNAMICS INC (STLD) stock?
STEEL DYNAMICS INC (STLD) has a support level at 156.21. Check the full technical report for our detailed analysis of STLD support and resistance levels.