Nice shakeout so far on $STLD if we close strong like this. Few more days below that supply line could set this up into a nice year end rally back to previous highs (orange bars).
$STLD is another steel stock that's working on its right side. Its not ready just yet but getting it on our radar along side $NUE that I posted about yesterday. With tech stocks extended. Rotation might come back with money flowing into these.
According to Traders-Paradise Algorithm, this has a high chance of going up as the TakeProfit & StopLoss strategy indicate. For day traders - 11/8/21: High chance for going up today.
Strength in multiple steel stocks. My favorite of the bunch is $STLD reclaiming double bottom traditional pivot in today's session (blue line).
STLD: Steel Dynamics, Inc. 2021-07-06 16:00:00 Steel Dynamics Announces Additional Share Repurchase Authorization
NASDAQ:STLD broke downtrend and made new highs. AUG 20 '21 $55 calls on deck
NASDAQ:STLD Possible Scenario: LONG Evidence: Price Action TP1~ 52$ TP2~ 54$ Call options, Strike 55, 08/20/2021 This is my idea and could be wrong 100%,
My opinion on this company is that it will keep growing to new ATH, they are undervalued and I trust the intrinsic value to maintain/gain moving forward long term. The type of thing I'd want a piece in for years, on the lookout for buy-in opportunities.
Making a pretty drastic change in the exit strategy; well, same strategy just tightening up the stdDev multipliers a LOT. new stop loss is going to be just 10% what it was, trailstop activation trigger is cut in half, and trail stop is going from 0.25 to 0.1. These are all configurable in the script. been doing some backtesting and it seems like this tactic of...