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Bearish Moving Average Cross by Steel Dynamics (STLD)

By Amy Schwartz

Steel Dynamics (NASDAQ:STLD) shares have crossed bearishly below their 10-day moving average of $34.17 on a volume of 991K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Steel Dynamics share prices have been bracketed by a low of $15.32 and a high of $40.17 and are now at $33.07, 116% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 2.6%.

SmarTrend is tracking the current trend status for Steel Dynamics and will alert subscribers who have STLD in their portfolio or watchlist when shares have changed trend direction.

Keywords: moving crosses Steel Dynamics

Ticker(s): STLD