When the Price of Steel Dynamics $STLD Talks, People Listen
July 16, 2023, 17:00 pm ET, BY Scott B.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for STLD
- Buy STLD slightly over 99.31 target 115.03 stop loss @ 99.02 Details
The technical summary data tells us to buy STLD near 99.31 with an upside target of 115.03. This data also tells us to set a stop loss @ 99.02 to protect against excessive loss in case the stock begins to move against the trade. 99.31 is the first level of support below 106.36 , and by rule, any test of support is a buy signal. In this case, support 99.31 would be being tested, so a buy signal would exist.
- Short STLD slightly under 115.03, target 99.31, stop loss @ 115.36 Details
The technical summary data is suggesting a short of STLD as it gets near 115.03 with a downside target of 99.31. We should have a stop loss in place at 115.36though. 115.03 is the first level of resistance above 106.36, and by rule, any test of resistance is a short signal. In this case, if resistance 115.03 is being tested, so a short signal would exist.
Swing Trading Plans for STLD
- Buy STLD slightly over 108.41, target 115.03, Stop Loss @ 108.1 Details
If 108.41 begins to break higher, the technical summary data tells us to buy STLD just slightly over 108.41, with an upside target of 115.03. The data also tells us to set a stop loss @ 108.1 in case the stock turns against the trade. 108.41 is the first level of resistance above 106.36, and by rule, any break above resistance is a buy signal. In this case, 108.41, 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 108.41, target 104.12, Stop Loss @ 108.72. Details
The technical summary data is suggesting a short of STLD if it tests 108.41 with a downside target of 104.12. We should have a stop loss in place at 108.72 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, 108.41, 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 108.54, target 115.03, Stop Loss @ 108.29 Details
If 108.54 begins to break higher, the technical summary data tells us to buy STLD just slightly over 108.54, with an upside target of 115.03. The data also tells us to set a stop loss @ 108.29 in case the stock turns against the trade. 108.54 is the first level of resistance above 106.36, and by rule, any break above resistance is a buy signal. In this case, 108.54, 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 108.54, target 106.18, Stop Loss @ 108.79. Details
The technical summary data is suggesting a short of STLD if it tests 108.54 with a downside target of 106.18. We should have a stop loss in place at 108.79 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, 108.54, 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 (STLD) available here: STLD.
STLD Ratings for July 16:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Strong |
Neutral |
Strong |
| P1 |
0 |
0 |
99.31 |
| P2 |
106.18 |
104.12 |
115.03 |
| P3 |
108.54 |
108.41 |
132.51 |
AI Generated Signals for STLD
Blue = Current Price
Red= Resistance
Green = Support
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This is not EF Hutton, but it could be more #powerful. A picture speaks a thousand words, they say, and the #priceaction of Steel Dynamics (NASDAQ: STLD) tells an important story. The movement tells us where investors perceive value, or the lack of it, and if we pay attention we can capture opportunity. The data below for STLD can be used as an example, and demonstrate how to do this for other stocks too. This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for STLD:
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