STEEL DYNAMICS INC. - 1H - Technical analysis published on 09/27/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
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Summary of the analysis
Additional analysis
Quotes
The STEEL DYNAMICS INC. rating is 105.53 USD. The price has increased by +2.64% since the last closing and was traded between 103.74 USD and 105.75 USD over the period. The price is currently at +1.73% from its lowest and -0.21% from its highest.The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of STEEL DYNAMICS INC. in 1H shows a strongly overall bullish trend. The signals given by the moving averages are 89.29% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 1 hour
In fact, 12 technical indicators on 18 studied are currently bullish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
Momentum indicator is back over 0
Type : Bullish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Near support of channel
Type : Bullish
Timeframe : 1 hour
The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:
Upside gap
Type : Bullish
Timeframe : 1 hour
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 101.00 | 102.76 | 105.31 | 105.53 | 108.26 | 109.34 | 110.60 |
Change (%) | -4.29% | -2.62% | -0.21% | - | +2.59% | +3.61% | +4.80% |
Change | -4.53 | -2.77 | -0.22 | - | +2.73 | +3.81 | +5.07 |
Level | Intermediate | Intermediate | Major | - | Intermediate | Minor | Intermediate |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 98.67 | 100.50 | 101.66 | 103.49 | 104.65 | 106.48 | 107.64 |
Camarilla | 102.00 | 102.27 | 102.55 | 102.82 | 103.09 | 103.37 | 103.64 |
Woodie | 98.34 | 100.33 | 101.33 | 103.32 | 104.32 | 106.31 | 107.31 |
Fibonacci | 100.50 | 101.64 | 102.35 | 103.49 | 104.63 | 105.34 | 106.48 |
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 89.47 | 92.50 | 96.80 | 99.83 | 104.13 | 107.16 | 111.46 |
Camarilla | 99.08 | 99.76 | 100.43 | 101.10 | 101.77 | 102.44 | 103.12 |
Woodie | 90.11 | 92.82 | 97.44 | 100.15 | 104.77 | 107.48 | 112.10 |
Fibonacci | 92.50 | 95.30 | 97.03 | 99.83 | 102.63 | 104.36 | 107.16 |
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 91.81 | 95.86 | 101.23 | 105.28 | 110.65 | 114.70 | 120.07 |
Camarilla | 104.00 | 104.86 | 105.73 | 106.59 | 107.45 | 108.32 | 109.18 |
Woodie | 92.46 | 96.19 | 101.88 | 105.61 | 111.30 | 115.03 | 120.72 |
Fibonacci | 95.86 | 99.46 | 101.69 | 105.28 | 108.88 | 111.11 | 114.70 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
RSI (14): | 64.19 | |
MACD (12,26,9): | 0.7700 | |
Directional Movement: | 17.43 | |
AROON (14): | 100.00 | |
DEMA (21): | 104.20 | |
Parabolic SAR (0,02-0,02-0,2): | 102.33 | |
Elder Ray (13): | 1.05 | |
Super Trend (3,10): | 101.56 | |
Zig ZAG (10): | 105.54 | |
VORTEX (21): | 1.1200 | |
Stochastique (14,3,5): | 52.02 | |
TEMA (21): | 104.32 | |
Williams %R (14): | -15.03 | |
Chande Momentum Oscillator (20): | 1.09 | |
Repulse (5,40,3): | 1.0700 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.1300 | |
Courbe Coppock: | 3.15 |
MA7: | 101.87 | |
MA20: | 102.45 | |
MA50: | 103.42 | |
MA100: | 102.14 | |
MAexp7: | 103.87 | |
MAexp20: | 103.14 | |
MAexp50: | 102.05 | |
MAexp100: | 101.94 | |
Price / MA7: | +3.59% | |
Price / MA20: | +3.01% | |
Price / MA50: | +2.04% | |
Price / MA100: | +3.32% | |
Price / MAexp7: | +1.60% | |
Price / MAexp20: | +2.32% | |
Price / MAexp50: | +3.41% | |
Price / MAexp100: | +3.52% |
News
The last news published on STEEL DYNAMICS INC. at the time of the generation of this analysis was as follows:
- Steel Dynamics Provides Third Quarter 2023 Earnings Guidance
- Steel Dynamics Appoints Jennifer Hamann to the Company's Board of Directors
- Steel Dynamics Announces Third Quarter 2023 Cash Dividend
- Steel Dynamics is a Proud Supporter of The Steel Climate Standard to Reduce Greenhouse Gas Emissions
- Sinton Texas Flat Roll Steel Mill Hot Mill Restart
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