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Upgrade Alert for Steel Dynamics (STLD)
[March 05, 2013]

Upgrade Alert for Steel Dynamics (STLD)

Mar 05, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Steel Dynamics (NASDAQ:STLD) was upgraded from Neutral to Buy at Longbow today. The stock closed yesterday at $14.98 on volume of 3.4 million shares, above average daily volume of 2.6 million. Steel Dynamics, Inc. owns and operates a flat-rolled steel mini-mill, as well as a cold mill. The Company is also constructing a plant for the manufacture of direct reduced iron. Steel Dynamics's customers include intermediate steel processors, steel service centers, and end users such as manufacturers of cold-rolled strip.

Steel Dynamics (NASDAQ:STLD) has potential upside of 10.4% based on a current price of $14.98 and analysts' consensus price target of $16.54. The stock should find initial support at its 50-day moving average (MA) of $14.92 and further support at its 200-day MA of $12.89.

In the past 52 weeks, Steel Dynamics share prices have been bracketed by a low of $10.11 and a high of $16.16 and closed yesterday at $14.98, 48% above that low price. The 200-day and 50-day moving averages have moved 0.37% higher and 0.49% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Steel Dynamics on December 17th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $13.73. Since that recommendation, shares of Steel Dynamics have risen 9.1%. We continue to monitor STLD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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