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Steel Dynamics Crosses Above its 10-day MA (STLD)

By Shiri Gupta

Today, shares of Steel Dynamics (NASDAQ:STLD) have advanced above their 10-day MA of $47.14 on a volume of 804K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

Steel Dynamics share prices have moved between a 52-week high of $50.70 and a 52-week low of $22.79 and are now trading 110% above that low price at $47.85 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 recommended that subscribers consider buying shares of Steel Dynamics on February 14th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $45.53. Since that recommendation, shares of Steel Dynamics have risen 3.2%. We continue to monitor STLD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Steel Dynamics

Ticker(s): STLD