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

By David Diaz

Steel Dynamics (NASDAQ:STLD) crossed over its 10-day moving average of $24.09 on a volume of 1.1 million shares. This may provide swing traders with 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 $15.32 and a high of $28.01 and are now at $24.27, 58% 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 recommended that its subscribers protect gains by selling shares of Steel Dynamics on August 11th, 2016 by issuing a Downtrend alert when the shares were trading at $25.66. Since that call, shares of Steel Dynamics have fallen 8.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses Steel Dynamics

Ticker(s): STLD