Can Steel Dynamics, Inc. (STLD)’s Tomorrow be Different? The Stock Formed a Bullish Descending Triangle Chart Pattern

July 17, 2017 - By Clifton Ray

Investors sentiment increased to 0.96 in 2016 Q4. Its up 0.05, from 0.91 in 2016Q3. It is positive, as 28 investors sold Steel Dynamics, Inc. shares while 162 reduced holdings. 82 funds opened positions while 101 raised stakes. 201.62 million shares or 6.17% more from 189.89 million shares in 2016Q3 were reported.
Lpl Financial Limited Liability owns 13,586 shares or 0% of their US portfolio. Credit Suisse Ag owns 0.04% invested in Steel Dynamics, Inc. (NASDAQ:STLD) for 1.22 million shares. Allianz Asset Mgmt Ag has invested 0.05% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD). New York Life Tru holds 0.45% or 2,665 shares. Hoplite Capital Mgmt L P has 1.60 million shares for 2.93% of their portfolio. Alabama-based Leavell Inv Mgmt has invested 0.06% in Steel Dynamics, Inc. (NASDAQ:STLD). Ftb Advsr Inc holds 0% or 214 shares in its portfolio. Jefferies Grp Limited Liability Corp, New York-based fund reported 19,484 shares. Boston Advsr Lc, a Massachusetts-based fund reported 48,587 shares. Benjamin F Edwards & Com accumulated 1,060 shares or 0.01% of the stock. Pnc Financial Service Gru holds 23,484 shares or 0% of its portfolio. Brave Asset Mngmt accumulated 0.28% or 12,500 shares. Sg Americas Securities Ltd Liability Co accumulated 15,732 shares or 0% of the stock. Raymond James Finance Svcs Advsrs holds 13,835 shares or 0% of its portfolio. Sei Invests Company invested in 155,935 shares.

Since March 16, 2017, it had 0 insider purchases, and 1 insider sale for $5.00 million activity. $5.00M worth of Steel Dynamics, Inc. (NASDAQ:STLD) shares were sold by TEETS RICHARD P JR.

The stock of Steel Dynamics, Inc. (STLD) formed a descending triangle with $38.04 target or 4.00 % above today’s $36.58 share price. The 5 months triangle pattern indicates low risk for the $8.81 billion company. If the $38.04 price target is reached, the company will be worth $352.40M more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

About 1.72 million shares traded. Steel Dynamics, Inc. (NASDAQ:STLD) has risen 44.39% since July 17, 2016 and is uptrending. It has outperformed by 27.69% the S&P500.

Steel Dynamics, Inc. (NASDAQ:STLD) Ratings Coverage

Among 14 analysts covering Steel Dynamics Inc. (NASDAQ:STLD), 11 have Buy rating, 0 Sell and 3 Hold. Therefore 79% are positive. Steel Dynamics Inc. had 44 analyst reports since July 22, 2015 according to SRatingsIntel. As per Monday, August 22, the company rating was initiated by Citigroup. The firm has “Neutral” rating by Macquarie Research given on Tuesday, November 29. Jefferies reinitiated the shares of STLD in report on Wednesday, January 13 with “Buy” rating. Berenberg upgraded Steel Dynamics, Inc. (NASDAQ:STLD) on Tuesday, March 8 to “Buy” rating. The company was downgraded on Monday, November 14 by Rosenblatt. The firm has “Sector Weight” rating by KeyBanc Capital Markets given on Friday, August 19. The stock of Steel Dynamics, Inc. (NASDAQ:STLD) has “Buy” rating given on Tuesday, November 24 by BB&T Capital. The rating was downgraded by Berenberg on Monday, November 14 to “Hold”. Nomura upgraded the shares of STLD in report on Monday, December 14 to “Buy” rating. As per Tuesday, December 6, the company rating was upgraded by Berenberg.

More important recent Steel Dynamics, Inc. (NASDAQ:STLD) news were published by: which released: “Steel Dynamics, Inc. (STLD) Ex-Dividend Date Scheduled for June 28, 2017” on June 27, 2017, also published article titled: “Steel Dynamics (STLD) Expands Production Capacity in Indiana”, published: “Steel Dynamics Structural and Rail Division Increases Production Capability …” on July 05, 2017. More interesting news about Steel Dynamics, Inc. (NASDAQ:STLD) was released by: and their article: “Steel Dynamics (STLD) Provides Earnings Guidance for Q2” with publication date: June 20, 2017.

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