The Hourly View for STLD
At the moment, STLD (Get Ratings)’s price is down $-0.03 (-0.07%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
STLD’s Technical Outlook on the Daily Chart
At the moment, STLD’s price is down $-0.3 (-0.65%) from the day prior. It’s been a feast for bears operating on the daily timeframe, as STLD has now gone down 4 of the past 5 days. Regarding the trend, note that the strongest trend exists on the 50 day timeframe. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. The chart below shows STLD’s price action over the past 90 days.
For STLD News Traders
News traders keeping an eye on STLD may find value in this recent story:
Steel Dynamics (STLD) says it reached an agreement with environmentalists that will help endangered whooping cranes and encourage regulators to approve a pending pollution permit for the steelmaker’s new $1.9B mill near Corpus Christi, Texas.The company agreed to create a special marsh to filter the mill’s wastewater beyond the requirements…
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The post Steel Dynamics Inc (STLD): Price Now Near $45.7; Daily Chart Shows An Uptrend on 100 Day Basis appeared first on ETF Daily News.
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