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

By James Quinn

Today, shares of Steel Dynamics (NASDAQ:STLD) have crossed bullishly above their 10-day moving average of $34.64 on a volume of 312K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, Steel Dynamics share prices have been bracketed by a low of $28.91 and a high of $52.10 and are now at $34.77, 20% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 0.5%.

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