STLD is showing a beautiful upward trending price channel with pretty “predicable” tags on the 20 day moving average.

Today was a down day and it looks like it may be a buying opportunity as the price just hit the channel’s bottom support line.

Another positive is that  the dips in price have been led by fairly low volume where as the upward movements are powered by higher volume.

I would buy @ $35.56 with a pretty conservative stop loss around $34 bucks.  If the price continues to hold it’s bouncy trend, I would sell upon reaching the upper boundary of the price channel.