STEEL DYNAMICS INC
(STLD-Nasdaq):
Technical Viewpoint: From a low
of $28.86 on Mar 10, 2008 prices
rallied, reaching a
high of $39.25
on Apr 22, 2008. A
decline saw prices pull back, reaching a
low of
$32.70 on May 1, 2008.
Another rally saw prices penetrate
resistance, closing 5/16/08
at $37.92. Technicals: MACD Index (MACD): A Buy Alert!
was given on May 15, 2008 when the solid line crossed the dotted line to the upside.
Support: Remains at $34.00. Resistance: Is at $39.25.
Point & Figure: Reversed to the upside on May 16, 2008. A P&F upside
reversal takes place at $35.00. Summary: Technical indicators have turned bullish. BUY! STEEL DYNAMICS INC
(STLD-Nasdaq) @ $38.13 Stop: Use a protective stop of $36.13.
STEEL DYNAMICS INC is currently trading @ $37.92 plus $1.55 on May 16, 2008. Price Objective:
$49.50. Risk/Reward: $2.00 VS. $11.37. Today's Risk Reward Ratio: 6:1
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