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After Yesterday's Decline of 3.72%, Steel Dynamics Offers Investors Better Value

By Shiri Gupta

Steel Dynamics (NASDAQ:STLD) traded in a range yesterday that spanned from a low of $33.79 to a high of $34.67. Yesterday, the shares fell 3.7%, which took the trading range below the 3-day low of $34.01 on volume of 1.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Steel Dynamics share prices have been bracketed by a low of $15.32 and a high of $40.17 and are now at $33.86, 121% 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 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: rebounders Steel Dynamics

Ticker(s): STLD