Steel Dynamics ( NASDAQ:STLD ) reports current quarter guidance that was above estimates as it sees profitability potentially stronger than the previous quarter. The steelmaker said the gains were driven by its flat-rolled steel operations. Steel Dynamics added that because of its confidence in the business, the company repurchased 1.4% of its stock so far in the...
I am bearish on commodity stocks such as Vale and Cleveland-Cliffs as well. I think 104.5 is a good point to think about being bullish again
Current Price: 105.5 Entry: 104.28 Profit level: 115.2(10.46%) S/L: 101.95 (2.24%) Risk & Reward Ratio: 4.66 Bullish Signal Symmetrical triangle pattern is forming Price> EMA 5, 18, 20, 150, 200 Short-term EMAs are crossing the long-term EMAs MACD curves almost cross and start turning upward Relatively low ATR RIS is at around 50 to 55, between 70 to 30.
Trading Idea 1) Find a FIBO slingshot 2) Check FIBO 61.80% level 3) Entry Point > 102/61.80% Chart time frame : B A) 15 min(1W-3M) B) 1 hr(3M-6M) C) 4 hr(6M-1year) D) 1 day(1-3years) Stock progress : A A) Keep rising over 61.80% resistance B) 61.80% resistance C) Hit the bottom D) Hit the top Stocks rise as they rise from support and fall from resistance....
STLD is hanging on by a thread. A trigger of this neckline may be a good spot to short or play puts.
Trading Idea 1) Find a FIBO slingshot 2) Check FIBO 61.80% level 3) Entry Point > 111/61.80%
$STLD 6% upmove from 122.50 to 130 Technicals : 1. Monthly - bullish 2. Weekly - bullish 3. Daily - RSI Positive Reverse Divergence Trade setup : 1. Entry : 122.50 2. Stop Loss : 119.75 3. Risk : 2.75 points 4. Target : 130 5. Profit points : 7.5 points 6. R/R : 2.75 : 7.5 = 1:3
The PEAD projected a Bullish outlook for $STLD after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 61.54%.
$STLD - Solid short setup, with China still on 0 Covid
Notes: * Very strong up trend on all time frames * Great earnings track record * Basing for the past ~5 months * Was rejected around the ~85.3 area and pulled back to its 20 day EMA * Now it's broken above that resistance level with high volume * Printed a pocket pivot indicating institutional demand * Seems to have also formed an inverse head and shoulders...
Based on historical movement, the peak could occur anywhere in the larger red box. The final targets are in the green boxes. The pending bottom should occur within the larger green box as has been the historical case. Half of all movement has ended in the smaller green box. In this instance, the signal indicated SELL on May 27, 2022 with a closing price of...
The PEAD projected a Bullish outlook for $STLD after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 50%.
Based on historical movement, the peak could occur anywhere in the larger red box. The final targets are in the green boxes. The pending bottom should occur within the larger green box as has been the historical case. Half of all movement has ended in the smaller green box. In this instance, the signal indicated SELL on March 25, 2022 with a closing price of...
on the daily it's a golden cross with buy on the weekly and the 3M
We have a weekly breakout in the chart. Steel prices going higher IMHO. Let's see what we get. Looking to add options.