• Return to Headlines

Steel Dynamics Falls 2.88% on Heavy Volume: Watch For Potential Rebound

By Nick Russo

Steel Dynamics (NASDAQ:STLD) traded in a range yesterday that spanned from a low of $29.86 to a high of $31.47. Yesterday, the shares fell 2.9%, which took the trading range below the 3-day low of $30.51 on volume of 622,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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.

Over the past year, Steel Dynamics has traded in a range of $28.91 to $52.10 and is now at $30.03, 4% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.5% while the 200-day MA has slid 0.9%.

Keywords: rebounders Steel Dynamics

Ticker(s): STLD