STEEL DYNAMICS INC.

- USD (-)

- 15 min delayed data - NASDAQ Stocks

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Stocks
Ticker:	STLD
ISIN:

STEEL DYNAMICS INC. - 1H - Technical analysis published on 11/27/2023 (GMT)

Londinia

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

83%

17%

My opinion

Bullish above 113.55 USD

My targets

117.09 USD (+2.21%)

124.99 USD (+9.10%)

My analysis

All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on STEEL DYNAMICS INC. as long as the price remains well above 113.55 USD. The buyers' bullish objective is set at 117.09 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 124.99 USD. If there is any crossing, the next objective would be the resistance located at 134.44 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.

In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

8.8

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

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Additional analysis

Quotes

The STEEL DYNAMICS INC. price is 114.56 USD. On the day, this instrument gained +2.74% and was between 111.88 USD and 115.21 USD. This implies that the price is at +2.40% from its lowest and at -0.56% from its highest.

111.88

115.21

114.56

A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.

Bullish opening

Type : Bullish

Timeframe : Openning

Here is a more detailed summary of the historical variations registered by STEEL DYNAMICS INC.:

The study of the highest / lowest by the Central Records scanner shows the following result:

New HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of this 1H chart of STEEL DYNAMICS INC. indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

Technical indicators are strongly bullish, suggesting that the price increase should continue.
Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : 1 hour

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Pivot points : price is over resistance 2

Type : Neutral

Timeframe : Weekly

Pivot points : price is over resistance 3

Type : Neutral

Timeframe : 1 hour

The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:

Resistance of channel is broken

Type : Bullish

Timeframe : 1 hour

From the Japanese candlestick perspective, the Central Candlesticks scanner notes the presence of these results that could impact the short-term trend:

Bullish harami

Type : Bullish

Timeframe : 1 hour

Doji

Type : Neutral

Timeframe : 1 hour

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	110.15	111.73	113.55	114.56	117.09	124.99	134.44
Change (%)	-3.85%	-2.47%	-0.88%	-	+2.21%	+9.10%	+17.35%
Change	-4.41	-2.83	-1.01	-	+2.53	+10.43	+19.88
Level	Major	Minor	Intermediate	-	Intermediate	Minor	Major

Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	108.94	110.04	110.77	111.87	112.60	113.70	114.43
Camarilla	111.00	111.17	111.33	111.50	111.67	111.84	112.00
Woodie	108.76	109.95	110.59	111.78	112.42	113.61	114.25
Fibonacci	110.04	110.74	111.17	111.87	112.57	113.00	113.70

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	108.15	109.65	110.57	112.07	112.99	114.49	115.41
Camarilla	110.84	111.06	111.28	111.50	111.72	111.94	112.17
Woodie	107.87	109.51	110.29	111.93	112.71	114.35	115.13
Fibonacci	109.65	110.57	111.14	112.07	112.99	113.56	114.49

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	86.18	92.22	99.36	105.40	112.54	118.58	125.72
Camarilla	102.89	104.09	105.30	106.51	107.72	108.93	110.14
Woodie	86.74	92.50	99.92	105.68	113.10	118.86	126.28
Fibonacci	92.22	97.25	100.36	105.40	110.43	113.54	118.58

Numerical data

The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:

Technical indicators

Moving averages

RSI (14):	67.03
MACD (12,26,9):	0.6300
Directional Movement:	22.94
AROON (14):	35.71
DEMA (21):	113.71
Parabolic SAR (0,02-0,02-0,2):	111.79
Elder Ray (13):	1.32
Super Trend (3,10):	112.11
Zig ZAG (10):	114.66
VORTEX (21):	1.0900
Stochastique (14,3,5):	88.21
TEMA (21):	113.97
Williams %R (14):	-12.77
Chande Momentum Oscillator (20):	2.36
Repulse (5,40,3):	0.7300
ROCnROLL:	1
TRIX (15,9):	0.0500
Courbe Coppock:	1.81

MA7:	112.03
MA20:	110.30
MA50:	106.45
MA100:	105.16
MAexp7:	113.87
MAexp20:	112.96
MAexp50:	111.99
MAexp100:	110.82
Price / MA7:	+2.26%
Price / MA20:	+3.86%
Price / MA50:	+7.62%
Price / MA100:	+8.94%
Price / MAexp7:	+0.61%
Price / MAexp20:	+1.42%
Price / MAexp50:	+2.29%
Price / MAexp100:	+3.37%

Quotes : - 15 min delayed data - NASDAQ Stocks

News

Don't forget to follow the news on STEEL DYNAMICS INC.. At the time of publication of this analysis, the latest news was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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