Technical indicators signal a Ascending Triangle forming. Verify the setup on the chart.
Bullish continuation pattern.
Technical analysis of Steel Dynamics (STLD) reveals a significant setup. Price has moved to $191.61 (-3.96%) amidst recent volatility. The primary technical feature is a **Ascending Triangle** formation. The trend indicator is reading 26.5/100, suggesting moderate momentum. A potential breakout level is identified at **$208.47**, targeting **$250.78** with support near **$178.17** (R:R 1.4).
What is your outlook on STLD?