Entry conditions: (i) lower share price for ASX:SLX below the level of the potential outside week noted on 30th August. Stop loss for the trade would be: (i) above the swing high of 26th August (i.e.: above $4.61), once the trade has activated.
SLX is currently in a descending wedge with bullish RSI divergence. Look for a breakout and retest of upper trendline for entry or enter a small position on bounce of lower trendline, stoploss at last swing low with target of $4 and will be moving SL to BE when safe to do so.
ASX:SLX A little bit extended but in stage two uptrend.. Watchlist stock
NYSE:NUE Head & Shoulders Pattern triggered, looking for this stock to head toward a double bottom
SLX back above the Macro Mid range, also back holding the local range low. Looking for a quick scalp to local range high "target1" If we break above and hold il start looking for longs to target 2 macro range high Wrong below 2.76
Steel has been on a rip. New 52 week highs in: STLD steel 999 sctr rating SLX steel 996 sctr rating ZEUS steel 974 sctr rating (see stockcharts.com for definition of sctr rating). Barchart has a strong buy on the ETF, with acknowledgement that reopening China is good for business. But before I would jump on the FOMO bandwagon, I would take note of the very...
So the technicals are great, excellent uptrend with the price above its MAs and now formming a third base in which I'm waiting for the breakout to enter a position. The pattern is accompanied by low volume, that's good too. Also, is leading its sector. Very strong realtive strength against the Steel ETF AMEX:SLX , which has a 17% allocation of the stock. Today...
Shares of several steel companies are trading higher, potentially amid US infrastructure optimism and outlook for an economic recovery, both of which could lift demand. Additionally, ArcelorMittal (MT) reportedly raised flat steel price offers. Steel Stocks Higher Friday: US Steel Up 8%, Nucor Up 7%, Arcelor Mittal Up 6%, Steel Dynamics Up 5%(Benzinga) While I...
Technical Analysis We have a breakout on strong intraday volume (200% above 10-day average). RSI @67 - still not overbought. OBV has been supportive. Because we are in a longer down-trend, we will see multiple resistance; which will very helpful to set your limits. Risk reward ratio is great, using $32.3 as stop-limit loss, and $39 as a sell-exit. Be...
I really like US STEEL down here. I've had my eye on this one for some time but the trend is still technically pointing down. Following the price direction and watching strength/momentum is key. I can speculate and say this is an excellent buy (I think it's fantastic).. However, the trend is still pointing down even though I see value here. Notice the hidden...
I expect a steep rise in steel companies. The SLX vaneck vector ETF (steel) is ahead of nearly 66%. The figure shows that a fractal repetition begins to form. Therefore, the SLX exchange rate may be facing a steady rise in the coming months.