Nov. 14 at 3:28 AM
$STLD: The last close at
$154.59 indicates a position above the 30-day moving average (MA30) of
$150.76 and the 50-day moving average (MA50) of
$145.17, suggesting a bullish trend. The RSI of 52.26 indicates neutral momentum, providing room for upward movement. The recent high of
$164.73 is 6.5% above the current price, while the low of
$124.77 shows a significant range, allowing for potential volatility.
Directional bias is bullish due to the price being above both MAs and the proximity to the recent high. Suggested entry is at
$155.50, with a stop loss at
$150.00 to manage risk. Target 1 is set at
$160.00, just below the 60D high, and Target 2 at
$164.00, aiming for a breakout.
Monitor the ATR of 4.94 for potential volatility. This plan aligns with the current trend and price action.
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