STEEL DYNAMICS INC (STLD) Stock Technical Analysis
USA - NASDAQ:STLD - US8581191009 - Common Stock
Overall STLD gets a technical rating of 8 out of 10. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, STLD is only an average performer.
STLD has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. There is a support zone below the current price at 145.25, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.
- 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.
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109.89
5 important support areas can be observed.
- A support zone ranging from 143.57 to 145.25. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 135.07 to 138.70. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 129.95 to 131.66. This zone is formed by a combination of multiple trend lines 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.
- 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 | 78.64 | POSITIVE | STLD has a high relative strength, it outperformed 78.64% 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) | 62.83 | NEUTRAL | The RSI value for STLD is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.43 | POSITIVE | The MACD value suggests STLD has a positive trend. |
| Stochastics (14,3) | 64.24 | NEUTRAL | The Stochastics value for STLD is a neutral value. |
| Average True Range in percent/ATR (20) | 2.98 | MEDIUM VOLATILITY | The ATR as a percentage value for STLD suggests some volalility. |
| Average Directional Index/ADX (14) | 24.41 | NEUTRAL | The ADX value for STLD suggests a possible start of a new 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 |
|---|---|---|---|
| 156.25 | 143.56 | 12.69 (8.12%) | 12.31% |
| An entry @156.25. This is a Buy Stop order right above the 10 day high. | An exit @143.56. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 12.69 points, which is 8.12%. | When investing 12.31% of your capital in this trade, your total portfolio risk will be 1.00%. |
- 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.
152.95
+2.23 (+1.48%)
STEEL DYNAMICS INC / STLD FAQ
Can you provide the ChartMill technical rating for STEEL DYNAMICS INC?
ChartMill assigns a technical rating of 8 / 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 62.8333. 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 145.25. Check the full technical report for our detailed analysis of STLD support and resistance levels.