• user warning: Table './fnndrupaldev/term_node' is marked as crashed and last (automatic?) repair failed query: SELECT t.* FROM term_node r INNER JOIN term_data t ON r.tid = t.tid INNER JOIN vocabulary v ON t.vid = v.vid WHERE r.vid = 429417 ORDER BY v.weight, t.weight, t.name in /var/www/www.fnno.com/htdocs/modules/taxonomy/taxonomy.module on line 617.
  • user warning: Table './fnndrupaldev/sessions' is marked as crashed and last (automatic?) repair failed query: SELECT COUNT(sid) AS count FROM sessions WHERE timestamp >= 1417142145 AND uid = 0 in /var/www/www.fnno.com/htdocs/includes/session.inc on line 111.
  • user warning: Table './fnndrupaldev/sessions' is marked as crashed and last (automatic?) repair failed query: SELECT DISTINCT u.uid, u.name, s.timestamp FROM users u INNER JOIN sessions s ON u.uid = s.uid WHERE s.timestamp >= 1417142145 AND s.uid > 0 ORDER BY s.timestamp DESC in /var/www/www.fnno.com/htdocs/modules/user/user.module on line 765.

Steel Dynamics Crosses Below its 10-day MA (STLD)

Published on Fri, 01/25/2013 - 12:13
By Peter Chu

Steel Dynamics (NASDAQ:STLD) crossed under its 10-day moving average of $15.08 on a volume of 1.3 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Steel Dynamics have traded between a low of $10.11 and a high of $16.66 and are now at $14.94, which is 48% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has remained constant.

Steel Dynamics (NASDAQ:STLD) has potential upside of 7.1% based on a current price of $14.94 and analysts' consensus price target of $16.00. The stock should discover initial support at its 50-day moving average (MA) of $13.66 and subsequent support at its 200-day MA of $12.56.

Steel Dynamics, Inc. owns and operates a flat-rolled steel mini-mill, as well as a cold mill. The Company is also constructing a plant for the manufacture of direct reduced iron. Steel Dynamics's customers include intermediate steel processors, steel service centers, and end users such as manufacturers of cold-rolled strip.

By Peter Chu
pchu@fnno.com

Latest News from FNNO

Watch for Continued Gains in Shares of V...

Shares of Varian Medical Systems (NYSE:VAR) traded at a new 52-week high today of $89.6 ...

UnitedHealth: The Winning Streak Continu...

Shares of UnitedHealth (NYSE:UNH) traded today at $98.74, breaking its 52-week high. A ...

Texas Instruments: 52-Week High Recently...

Shares of Texas Instruments (NYSE:TXN) traded at a new 52-week high today of $53.74. T ...

Recent 52-Week High Exceeded in Shares o...

Taiwan Semiconductor Manufacturing (NYSE:TSM) traded at a new 52-week high today of $23 ...

Shares of Hanover Insurance Rise Above P...

Shares of Hanover Insurance (NYSE:THG) traded at a new 52-week high today of $71.67. T ...

Recent 52-Week High Exceeded in Shares o...

Taubman Centers (NYSE:TCO) traded today at a new 52-week high of $79.47. So far today ...

Shares of Taser International Have Risen...

Taser International (NASDAQ:TASR) traded at a new 52-week high today of $22.35. Approx ...

Shares of Sunstone Hotel Investors Have ...

Sunstone Hotel Investors (NYSE:SHO) traded at a new 52-week high today of $15.93. This ...