A Bearish Sign Appears On Steel Dynamics's Chart
Portfolio Pulse from Benzinga Insights
A bearish 'death cross' has formed on Steel Dynamics' (NASDAQ:STLD) chart, indicating a potential downtrend. The death cross occurs when the 50-day moving average moves below the 200-day moving average. Steel Dynamics is trading around $100.53 at publication time.
June 12, 2023 | 2:49 pm
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Steel Dynamics (NASDAQ:STLD) faces a bearish 'death cross' on its chart, indicating a potential downtrend. The stock is trading around $100.53.
The death cross is a technical indicator that suggests a potential downtrend in the stock price. As the 50-day moving average moves below the 200-day moving average, it indicates that the long-term trend may be changing. This bearish signal could lead to a decrease in the stock price of Steel Dynamics in the short term.
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