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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 $18.82 on a volume of 292K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, Steel Dynamics share prices have been bracketed by a low of $14.98 and a high of $36.14 and are now at $20.40, 36% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 3.2% while the 200-day MA has slid 0.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Steel Dynamics on January 22nd, 2020 by issuing a Downtrend alert when the shares were trading at $32.11. Since that call, shares of Steel Dynamics have fallen 44.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses Steel Dynamics

Ticker(s): STLD