Steel Dynamics Inc. (STLD) – stock is trading around $33.86 dollars as of January, 09, 2020 and offering a possible buying price between $33.83 – $35.52. Let’s look at the stocks technical actions using a weekly chart.
2. The stock started the down trend with the 200 & 50 day moving averages (DMA) crossover back in October 2018.
3. As the downtrend accelerated, the stock started to live below the 50 DMA, as well.
4. The stock finally reclaimed the 50 DMA back in November.
5. The stock also staged the bullish 50 & 200 DMA crossover.
6. After the quick run, the stock found support at the 50 DMA, again.
7. The stock is offering possible buying price between $33.83 – $35.52, with a stop loss at $31.12.
This stock is already part of the Stocks Under 50 Dollars pick and performance will be tracked here .
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