January 23, 2025, 16:40 pm ET, BY Allen K. - Contributor |
Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for STLD
- Buy STLD near 112.04 target 125.81 stop loss @ 111.72 Details
The technical summary data tells us to buy STLD near 112.04 with an upside target of 125.81. This data also tells us to set a stop loss @ 111.72 to protect against excessive loss in case the stock begins to move against the trade. 112.04 is the first level of support below 122.37 , and by rule, any test of support is a buy signal. In this case, support 112.04 would be being tested, so a buy signal would exist.
- Short STLD slightly under 125.81, target 112.04, stop loss @ 126.17 Details
The technical summary data is suggesting a short of STLD as it gets near 125.81 with a downside target of 112.04. We should have a stop loss in place at 126.17though. 125.81 is the first level of resistance above 122.37, and by rule, any test of resistance is a short signal. In this case, if resistance 125.81 is being tested, so a short signal would exist.
Swing Trading Plans for STLD
- Buy STLD slightly over 124.02, target 125.81, Stop Loss @ 123.66 Details
If 124.02 begins to break higher, the technical summary data tells us to buy STLD just slightly over 124.02, with an upside target of 125.81. The data also tells us to set a stop loss @ 123.66 in case the stock turns against the trade. 124.02 is the first level of resistance above 122.37, and by rule, any break above resistance is a buy signal. In this case, 124.02, 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 124.02, target 112.04, Stop Loss @ 124.38. Details
The technical summary data is suggesting a short of STLD if it tests 124.02 with a downside target of 112.04. We should have a stop loss in place at 124.38 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, 124.02, 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 123.5, target 124.02, Stop Loss @ 123.21 Details
If 123.5 begins to break higher, the technical summary data tells us to buy STLD just slightly over 123.5, with an upside target of 124.02. The data also tells us to set a stop loss @ 123.21 in case the stock turns against the trade. 123.5 is the first level of resistance above 122.37, and by rule, any break above resistance is a buy signal. In this case, 123.5, 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 123.5, target 112.04, Stop Loss @ 123.79. Details
The technical summary data is suggesting a short of STLD if it tests 123.5 with a downside target of 112.04. We should have a stop loss in place at 123.79 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, 123.5, 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 January 23:
Term → | Near |
Mid |
Long |
Rating |
Neutral |
Strong |
Neutral |
P1 |
0 |
0 |
112.04 |
P2 |
123.5 |
124.02 |
125.81 |
P3 |
125.98 |
129.43 |
140.32 |
AI Generated Signals for STLD
Blue = Current Price
Red = Resistance
Green = Support
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