How the (STLD) price action is used to our Advantage
April 19, 2024, 04:46 am ET, BY Quentin W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for STLD
- Buy STLD slightly over 132.47 target 143.26 stop loss @ 132.09 Details
The technical summary data tells us to buy STLD near 132.47 with an upside target of 143.26. This data also tells us to set a stop loss @ 132.09 to protect against excessive loss in case the stock begins to move against the trade. 132.47 is the first level of support below 136.07 , and by rule, any test of support is a buy signal. In this case, support 132.47 is being tested, a buy signal would exist.
- Short STLD slightly under 143.26, target 132.47, stop loss @ 143.67 Details
The technical summary data is suggesting a short of STLD as it gets near 143.26 with a downside target of 132.47. We should have a stop loss in place at 143.67though. 143.26 is the first level of resistance above 136.07, and by rule, any test of resistance is a short signal. In this case, if resistance 143.26 is being tested, a short signal would exist.
Swing Trading Plans for STLD
- Buy STLD slightly over 139.09, target 143.26, Stop Loss @ 138.69 Details
If 139.09 begins to break higher, the technical summary data tells us to buy STLD just slightly over 139.09, with an upside target of 143.26. The data also tells us to set a stop loss @ 138.69 in case the stock turns against the trade. 139.09 is the first level of resistance above 136.07, and by rule, any break above resistance is a buy signal. In this case, 139.09, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short STLD slightly near 139.09, target 136.04, Stop Loss @ 139.49. Details
The technical summary data is suggesting a short of STLD if it tests 139.09 with a downside target of 136.04. We should have a stop loss in place at 139.49 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 139.09, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Day Trading Plans for STLD
- Buy STLD slightly over 136.09, target 138.55, Stop Loss @ 135.77 Details
If 136.09 begins to break higher, the technical summary data tells us to buy STLD just slightly over 136.09, with an upside target of 138.55. The data also tells us to set a stop loss @ 135.77 in case the stock turns against the trade. 136.09 is the first level of resistance above 136.07, and by rule, any break above resistance is a buy signal. In this case, 136.09, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short STLD slightly near 136.09, target 132.47, Stop Loss @ 136.41. Details
The technical summary data is suggesting a short of STLD if it tests 136.09 with a downside target of 132.47. We should have a stop loss in place at 136.41 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 136.09, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Check the time stamp on this data. Updated AI-Generated Signals for Steel Dynamics Inc. (STLD) available here: STLD.
STLD Ratings for April 19:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Weak |
Weak |
Strong |
| P1 |
0 |
0 |
122.04 |
| P2 |
136.09 |
136.04 |
132.47 |
| P3 |
138.55 |
139.09 |
143.26 |
AI Generated Signals for STLD
Blue = Current Price
Red= Resistance
Green = Support
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Our job as #investors is to pay attention to the #stocks we own. Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The Steel Dynamics Inc. (NASDAQ: STLD) data table below can help you with price action, and we have more details too. Trading plans for STLD are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for STLD:
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