We assign a technical rating of 9 out of 10 to STLD. In the last year, STLD was one of the better performers, but we do observe some doubts in the very recent evolution.
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 176.07. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 169.26, a Stop Loss order could be placed below this zone.
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109.89
When analyzing the support we can see 8 important areas.
- A support zone ranging from 167.82 to 169.26. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 163.34 to 165.15. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @140.18 from a trend line in the weekly time frame.
- Support @137.66 from a trend line in the daily time frame.
- Support @134.94 from a horizontal line in the daily time frame.
- Support @129.63 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.
We found 1 important resistance area.
- A resistance zone ranging from 176.07 to 177.21. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 | NEUTRAL | NEUTRAL | The short term trend for STLD is neutral. |
| ChartMill Relative Strength | 87.79 | POSITIVE | STLD has a high relative strength, it outperformed 87.79% 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 | 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) | 49.25 | NEUTRAL | The RSI value for STLD is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -1.08 | NEGATIVE | The MACD value suggests STLD has a negative trend. |
| Stochastics (14,3) | 30.28 | NEUTRAL | The Stochastics value for STLD is a neutral value. |
| Average True Range in percent/ATR (20) | 2.6 | MEDIUM VOLATILITY | The ATR as a percentage value for STLD suggests some volalility. |
| Average Directional Index/ADX (14) | 27.88 | POSITIVE | The high ADX value value for STLD suggests a strong 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 |
|---|---|---|---|
| 171.88 | 167.81 | 4.07 (2.37%) | 25.00% |
| An entry @171.88. This is a Buy Stop order right above the 10 day moving average. | An exit @167.81. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 4.07 points, which is 2.37%. | For a 0.59% 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.
169.27
-2.89 (-1.68%)
STEEL DYNAMICS INC / STLD FAQ
Can you provide the ChartMill technical rating for STEEL DYNAMICS INC?
ChartMill assigns a technical rating of 9 / 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 49.2484. This indicates that the stock is currently neutral.
What is the support and resistance level for STLD stock?
STEEL DYNAMICS INC (STLD) has a support level at 169.26 and a resistance level at 176.07. Check the full technical report for our detailed analysis of STLD support and resistance levels.