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.
Note
STLD retesting th ebreakout, should move higher now. Set stops below the upper channel atNote
Retesting the breakout, stops right below the blue maNote
Retest of the breakout complete and heading higher. Low risk entry here. Stop below the 50sma on the daily chart. Earnings are in already and were very good. Hourly chart very bullish price above the 9ema and 25smaTrade closed: stop reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.