• Return to Headlines

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

By Amy Schwartz

Steel Dynamics (NASDAQ:STLD) shares have crossed bearishly below their 10-day moving average of $37.15 on a volume of 1.4 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Steel Dynamics share prices have been bracketed by a low of $22.79 and a high of $40.17 and are now at $36.68, 61% above that low price. The 200-day and 50-day moving averages have moved 0.59% higher and 2.57% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Steel Dynamics on June 29th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $35.29. Since that recommendation, shares of Steel Dynamics have risen 7.9%. 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