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Bearish Moving Average Cross by Steel Dynamics (STLD)

By David Diaz

Today, shares of Steel Dynamics (NASDAQ:STLD) have fallen below their 10-day MA of $25.74 on a volume of 415K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Steel Dynamics share prices have moved between a 52-week high of $26.99 and a 52-week low of $15.32 and are now trading 67% above that low price at $25.60 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.6% while the 200-day MA has risen 0.6%.

SmarTrend is monitoring the recent change of momentum in Steel Dynamics. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Steel Dynamics in search of a potential trend change.

Keywords: moving crosses Steel Dynamics

Ticker(s): STLD