There is a before and after in modern history when it comes to stock market Indexes because between 2007-2008 all the stock market hit a new high before drop Then this highs become the reference for all the stocks who drop with the index Then look around March 2009 when the stock market rebounded and the major companies started to show strength (Except the...
STLD, appears to be breaking higher out of the bull flag. With the entire sector moving higher like X, AKS, AA, CENX, I think this is a low risk play here. Should be good as long as we stay above the 50SMA.
STLD looks to be forming a bull flag with upside potential to $50. Trump is bullish on Steel stocks. Could we get a break out soon? I think so.
ENTER 34.80 STOP 33.49 TARGET 50.39
30 min indictors very bearish 35.63 support will break today MACD crossover 12:15 12:30
indictors are maxed out looks like a good short for the next hour back to 35.15
STLD's chart is massively bullish, the same as copper, iron ore futures, AUDUSD, and other correlated instruments. The setup here confirmed some time ago, but it's relevant as an analysis piece now. Most people are bearish on equities but I believe we're seeing the bottom here, or very close. Rising commodity prices seem likely going forward as well, which will...
Upper MLH is reached, the next stop is the centerline. P!
Nice pullback setup in this steel stock. $XLB showing strength. Weak dollar.