• Return to Headlines

After Yesterday's Rally of 2.60% Shares Could Potentially Pullback

By Shiri Gupta

Steel Dynamics (NASDAQ:STLD) traded in a range yesterday that spanned from a low of $43.97 to a high of $45.02. Yesterday, the shares gained 2.6%, which took the trading range above the 3-day high of $43.89 on volume of 1.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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.

Steel Dynamics share prices have moved between a 52-week high of $52.10 and a 52-week low of $32.20 and are now trading 40% above that low price at $44.93 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has declined 1.4%.

Keywords: rebounders Steel Dynamics

Ticker(s): STLD