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Bearish Moving Average Cross by Steel Dynamics (STLD)

By James Quinn

Today, shares of Steel Dynamics (NASDAQ:STLD) have crossed bearishly below their 10-day moving average of $35.30 on a volume of 512K 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.

Over the past year, Steel Dynamics has traded in a range of $22.79 to $40.17 and is now at $34.96, 53% above that low. The 200-day and 50-day moving averages have moved 0.59% higher and 2.57% higher over the past week, respectively.

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