pool adsSteel Dynamics $STLD Technical Update
The Steel Dynamics (NASDAQ: STLD) update and the technical summary table below can help you manage risk and optimize returns. We have day, swing, and longer-term trading plans for STLD, and 1300 other stocks too, updated in real time for our trial subscribers. The data below is a snapshot, but updates are available now.
Technical Summary
| Term → | Near | Mid | Long |
|---|---|---|---|
| Rating | Neutral | Weak | Neutral |
| P1 | 39.99 | 39.66 | 40.45 |
| P2 | 41.06 | 43.85 | 45.33 |
| P3 | 41.96 | 47.96 | 50.14 |
Support and Resistance Plot Chart for STLD
Long Term Trading Plans for STLD
October 23, 2018, 2:45 pm ET
The Technical Summary and Trading Plans for STLD help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this STLD Report.
STLD - (Long) Support Plan
Buy over 40.45 target 45.33 stop loss @ 40.19.
The technical summary data tells us to buy STLD near 40.45 with an upside target of 45.33. This data also tells us to set a stop loss @ 40.19 to protect against excessive loss in case the stock begins to move against the trade. 40.45 is the first level of support below 40.7 , and by rule, any test of support is a buy signal. In this case, support 40.45 would be being tested, so a buy signal would exist.
STLD - (Short) Resistance Plan
Short under 45.33 target 40.45 stop loss @ 45.59.
The technical summary data is suggesting a short of STLD as it gets near 45.33 with a downside target of 40.45. We should have a stop loss in place at 45.59 though. 45.33 is the first level of resistance above 40.7, and by rule, any test of resistance is a short signal. In this case, if resistance 45.33 is being tested, so a short signal would exist.
