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

By James Quinn

Steel Dynamics (NASDAQ:STLD) crossed over its 10-day moving average of $28.61 on a volume of 160K 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.

Over the past year, Steel Dynamics has traded in a range of $25.02 to $45.35 and is now at $28.85, 15% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1%.

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