Large Inflow of Money Detected in Steel Dynamics

Steel Dynamics (STLD) : Thursdays money flow points at investors jumping to buy the stock on the weakness of price. $2.35 million worth of transactions were on upticks, whereas, the downticks accounted for $1.39 million worth of transactions. The net money flow was a positive $0.96 million and the uptick to downtick ratio was 1.69. The net money flow into the stock was $1.1 million. The lack of interest in trading on downticks shows that the investors dont want to sell their holdings. The upticks accounted for $1.1 million of the total block trades, indicating continued buying interest on weakness, which bodes well for the future of the stock. Steel Dynamics (STLD) was trading at $27.43, down $0.03 during day. The stock slid -0.11% over the previous days close. For the week, the stock recorded 2.97% over the previous weeks close.


The stock has recorded a 20-day Moving Average of 9.4% and the 50-Day Moving Average is 11.59%. Shares have rallied 34.55% from its 1 Year high price. On Jun 8, 2016, the shares registered one year high at $26.99 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $25.17 and the 200 Day Moving Average price is recorded at $21.78.

Steel Dynamics (NASDAQ:STLD): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $27.77 and $27.34 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $27.94. The buying momentum continued till the end and the stock did not give up its gains. It closed at $27.73, notching a gain of 0.98% for the day. The total traded volume was 2,461,202 . The stock had closed at $27.46 on the previous day.

In an insider trading activity, The Securities and Exchange Commission has divulged that Busse Keith E, director of Steel Dynamics Inc, had unloaded 91,873 shares at an average price of $21.94 in a transaction dated on March 18, 2016. The total value of the transaction was worth $2,015,694.

Steel Dynamics, Inc. (SDI) is a steel producing and a metal recycling company. The Company operates in three segments: steel operations, metals recycling and ferrous resources operations, and steel fabrication operations. The Company offers hot roll, cold roll, galvanized, galvanneal, Galvalume, Galfan, and painted sheet steel; a range of structural steel beams and rails; engineered steel of various sizes and chemistries; and various merchant-bar products, rounds, angles, flats and channels. The Company also offers steel finishing and fabrication services. In the metals recycling operations of its metals recycling and ferrous resources segment, its products include an array of both ferrous and non-ferrous scrap processing, scrap management, transportation, and brokerage products and services. Its steel fabrication segment produces steel joists and steel decking materials.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.