Steel Dynamics, Inc. : An opportune entry-point
By Anas Boumedian
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$19.48 | $0 | $18.6 | -100% |
The company displays great growth potential and strong profitability. Upward revisions have been made on EPS in a two-year horizon. Net income for the ongoing fiscal year should advance by 70%. Analysts consensus target USD 26.7, which represents a real gain potential.
From a technical viewpoint, Steel Dynamics' shares are back to an important support area at USD 19.2, and also its bullish trend line. The fall registered on recent sessions represents a key entry point to aim a technical rebound with a target price at USD 21.35 and by extension USD 22.8.
According to fundamental and technical analysis, timing seems suitable for buying Steel Dynamics' shares. However a stop-loss order should be placed under the current midterm support.