STLD - What's oil got to do with it?
Volume's been increasing. EMA's have been falling. SMA's are taking a dive as well. Stochastics are giving a sell signal, RSI is headed lower and MACD is giving a potential sell signal. BB are converging as well. ADX is above 40 and headed higher-sideways.
I would wait until earnings in the next couple days to place any trade on this. Ideal would be a move lower to support around 13.40.
If this is taken, a trailing stop is highly recommended.
Oil and steel followed a similar path until late 2012. This could be a play on steel catching up with oil for the time being.
I would wait until earnings in the next couple days to place any trade on this. Ideal would be a move lower to support around 13.40.
If this is taken, a trailing stop is highly recommended.
Oil and steel followed a similar path until late 2012. This could be a play on steel catching up with oil for the time being.
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