Steel Dynamics saw a welcome improvement to its Relative Strength (RS) Rating on Wednesday, with an increase from 64 to 72.
IBD's unique rating tracks price performance with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the last 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history reveals that the top-performing stocks often have an RS Rating north of 80 in the early stages of their moves. See if Steel Dynamics can continue to rebound and clear that threshold.
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Steel Dynamics is working on a consolidation with a 155.56 buy point. See if it can clear the breakout price in heavy trade. Keep in mind that it's a later-stage consolidation, and those entail more risk.
The company posted negative growth for both sales and earnings last quarter. The company is expected to report its next quarterly numbers on or around Apr. 16.
Steel Dynamics earns the No. 4 rank among its peers in the Steel-Producers industry group. Tenaris ADR is the No. 1-ranked stock within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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