$STLD with a bullish outlook following its earnings #StocksThe PEAD projected a bullish outlook for NASDAQ:STLD after a positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 75%.
STLD trade ideas
Steel Dynamics: Trendline BrokenSteel Dynamics slid in recent quarters, but now it may be going the other way.
The first pattern on today’s chart is the series of lower highs between April and September. The steelmaker began October by pushing above that falling trendline, which may suggest its intermediate-term decline has ceased.
The rebound also returned STLD back above its 200-day simple moving average. That may be consistent with a longer-term uptrend.
The shares next proceeded to consolidate between roughly $126 and $131. Strong earnings pushed them above that range on Thursday. Will potential buyers look for retests near the top of the recent price zone?
Finally, MACD has remained positive and started expanding again.
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150 nice area to continue sideway trendThis is especially true for the crossover on the MACD, candle continuation, channels of support and resistance, and even stochastic, which is not fully extended.
STLD from $105.5 to $116MODs have suggested that I provide more detail about the picks I make.
Sorry. I'm not as verbose as y'all, and I don't like things to be complicated.
My trading plan is very simple.
I buy or sell at top & bottom of parallel channels.
I confirm when price hits Fibonacci levels.
Bonus if a TTM Squeeze in in play.
I hold until target is reached or end of year, when I can book a loss.
So...
Here's why I'm picking this symbol to do the thing.
Price at bottom of channel (period 100 52 39 & 26)
Stochastic Momentum Index (SMI) at oversold level
TTM Squeeze is off
TTM Squeeze momentum is down
VBSM is very negative
Impulse MACD is down
Price at near Fibonacci level (2.618)
In at $105.50
Target is $116 or channel top
Steel Dynamics ($STLD) Stock Hits a Record HighSteel 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 quarter. Steel Dynamics ( NASDAQ:STLD ) shares soared to a record high after the steel maker reported much better-than-expected guidance on booming demand.
The company predicts current quarter earnings per share (EPS) of $3.51 to $3.55, while analysts were looking for $3.32.
Steel Dynamics said it anticipates profitability from its steel operations to be "meaningfully stronger" than fourth-quarter results.
While the company will give more details in its first quarter financial report on April 23, it pointed to increased shipments and earnings driven by the company's flat-rolled steel operations as fueling growth. Steel Dynamics ( NASDAQ:STLD ) also said earnings from its metals recycling business will be higher, and that its automotive, non-residential construction, energy, and industrial sectors “continue to lead demand,”
Based on its “continued confidence in its earnings outlook and cash flow generation,” it had repurchased $279 million, or 1.4%, of its stock in the first quarter through March 11, the company said.
STLD BearishI 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
STLDCurrent 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.
STEEL DYNAMICS Stock Chart Fibonacci Analysis 072523 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. Our goal is to find a low support point and enter. It can be referred to as buying at the pullback point. The pullback point can be found with a Fibonacci extension of 61.80%. This is a step to find entry level. 1) Find a triangle (Fibonacci Speed Fan Line) that connects the high (resistance) and low (support) points of the stock in progress, where it is continuously expressed as a Slingshot, 2) and create a Fibonacci extension level for the first rising wave from the start point of slingshot pattern.
When the current price goes over 61.80% level , that can be a good entry point, especially if the SMA 100 and 200 curves are gathered together at 61.80%, it is a very good entry point.
As a great help, tradingview provide these Fibonacci speed fan lines and extension levels with ease. So if you use the Fibonacci fan line, the extension level, and the SMA 100/200 curve well, you can find an entry point for the stock market. At least you have to enter at this low point to avoid trading failure, and if you are skilled at entering this low point, with fibonacci6180 technique, your reading skill to chart will be greatly improved.
If you want to do day trading, please set the time frame to 5 minutes or 15 minutes, and you will see many of the low point of rising stocks.
If want to prefer long term range trading, you can set the time frame to 1 hr or 1 day.
STLDBroke down out of the channel today but buyers are showing up. I like July calls here assuming this is a false breakdown. Stop below today's low. First target is $104. Going much lower if this breakdown is real.
STLD - Looking weak, will it break? STLD is hanging on by a thread.
A trigger of this neckline may be a good spot to short or play puts.
STEEL DYNAMICS Stock Chart Fibonacci Analysis 032823 Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 111/61.80%
$STLD - bullish trade setup$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
$STLD with a Bullish outlook following its earnings #Stocks 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%.
$STLD - Solid short setup, with China still on 0 Covid$STLD - Solid short setup, with China still on 0 Covid
$STLD is pushing higher on the right side of its ~5 month base!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 pattern
* Showing lots of strength and accumulation
Technicals:
Sector: Basic Materials - Steel
Relative Strength vs. Sector: 3.15
Relative Strength vs. SP500: 1.44
U/D Ratio: 1.75
Base Depth: 55.04%
Distance from breakout buy point: -13.12%
Volume 148.59% above its 15 day avg.
Trade Idea:
* You can enter now as the price is just breaking above resistance with volume
* If you're looking for a better entry you may find one on the retest of ~85.3
* This stock usually has local tops when the price closes around 21.32% above its 50 EMA
* Consider selling into strength if the price closes 21.12% to 21.52% (or higher) above its 50 EMA
* The last closing price is 12.53% away from its 50 EMA
Steel Dynamics is overbought according to thisBased 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 85.6795.
If this instance is successful, that means the stock should decline to at least 84.85 which is the top of the larger green box. Three-quarters of all successful signals have the stock decline 2.103% from the signal closing price. This percentage is the top of the smaller green box. Half of all successful signals have the stock decline 4.89% which is the end point of the black dotted arrow. One-quarter of all successful signals have the stock decline 8.016% from the signal closing price which is the bottom of the smaller green box. The maximum decline on record would see a move to the bottom of the larger green box. These are the same concepts for the levels in the red boxes as well.
The ends/vertical sides of the boxes are determined in a similar fashion. The trough of the decline can occur as soon as the next trading bar after signal close, while the max decline occurs within the limit of study at 40 trading bars after the signal. A 0.75% decline must occur over the next 40 trading bars in order to be considered a success. Three-quarters of successful movement occur after at least 10 trading bars; half occur within 22 trading bars, and one-quarter require at least 36 trading bars.
The black dotted arrow represents median historical movement. Medians are a good metric, but they are just one of many I use when forecasting future movement.
As always, the stock could decline the very next bar after the signal without looking back (therefore the red boxes would not come into play) or the stock may never decline (and the green boxes may never come into play).
$STLD with a Bullish outlook following its earnings #Stocks 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%.
Will Red Hot STLD Cool Off?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 89.32.
If this instance is successful, that means the stock should decline to at least 88.46 which is the top of the larger green box. Three-quarters of all successful signals have the stock decline 2.053% from the signal closing price. This percentage is the top of the smaller green box. Half of all successful signals have the stock decline 4.824% which is the end point of the black dotted arrow. One-quarter of all successful signals have the stock decline 7.606% from the signal closing price which is the bottom of the smaller green box. The maximum decline on record would see a move to the bottom of the larger green box. These are the same concepts for the levels in the red boxes as well.
The ends/vertical sides of the boxes are determined in a similar fashion. The trough of the decline can occur as soon as the next trading bar after signal close, while the max decline occurs within the limit of study at 40 trading bars after the signal. A 0.75% decline must occur over the next 40 trading bars in order to be considered a success. Three-quarters of successful movement occur after at least 9 trading bars; half occur within 22 trading bars, and one-quarter require at least 36 trading bars.
The black dotted arrow represents median historical movement. Medians are a good metric, but they are just one of many I use when forecasting future movement.
As always, the stock could decline the very next bar after the signal without looking back (therefore the red boxes would not come into play) or the stock may never decline (and the green boxes may never come into play).
STLDStill loving the steel stocks. Breakout above the blue downtrend line starts the next leg up to $100 imo.
$STLD Potential Final Contraction before Breakout$STLD breaking yesterdays low potentially stopping many eager steel traders.
It is now potentially putting in its final contraction (3T) and making this setup even more appealing.
STLDRed to green after testing VWAP from ath today. Like the setup here. Still think this sees $100 before too long.
