Get started
VanEck Steel ETFVanEck Steel ETFVanEck Steel ETF

VanEck Steel ETF

No trades
See on Supercharts
Overview Analysis Holdings News
Ideas
Discussions Technicals Seasonals Options

SLX trade ideas

SLX Steel ETF Monthly view. Be aware of strong seasonalitySteel has been on a rip. New 52 week highs in: STLD steel 999 sctr rating SLX steel 996 sctr rating ZEUS steel 974 sctr rating (see stockcharts.com for definition of sctr rating). Barchart has a strong buy on the ETF, with acknowledgement that reopening China is good for business. But before I would jump on the FOMO bandwagon, I would take note of the very strong seasonal downtrend that has occurred around every May. Ride it a little longer maybe but be ready to hop off the train.
AMEX:SLX
by UnknownUnicorn13101
Steel long-term fate1 candle = 1 month. Which shows us a 10 year down-trend which is about to be tested. If we break R1, R2 is the next potential move. Since early november we haven't broken the 10sma, which can be used to exit half your position. Fundamentally speaking, it appears the market is expecting the stimulus bill which might come in the next months, and will most likely help the Infrastructure play. RSI is 62 on a monthly basis, on a daily basis it is 80. I would keep it on a watchlist until we break this downtrend, if you haven't been able to participate so far. Check out my last analysis on Steel since late october down below.
AMEX:SLX
by dorfmanmaster
Undervalued Steel BreakoutTechnical Analysis We have a breakout on strong intraday volume (200% above 10-day average). RSI @67 - still not overbought. OBV has been supportive. Because we are in a longer down-trend, we will see multiple resistance; which will very helpful to set your limits. Risk reward ratio is great, using $32.3 as stop-limit loss, and $39 as a sell-exit. Be careful of a fake break-out, as this is only the 1st day. Fundamental Analysis One of the infrastructure plays with expected fiscal stimulus, could be steel. As price is king, it tells a more accurate story of what market makers think of the upcoming events.
AMEX:SLX
by dorfmanmaster
Steel is looking AMAZING right now!!!!!Hey Guys, Gonna make this very quick. Steel is looking ridiculous right now. It broke out of its logarithmic resistance (extremely hard thing to do, took around 8 years), is at a daily resistance right now of around 51.60, and has fantastic potential to jump up to 57.00-58.00 MINIMUM, 76.00 being Aggressive. That doesn't even include the new tariff Trump put in place! I don't prefer to invest in ETF's, so I've found some very specific steel or steel-related value stocks who have grown with the same correlation as the ETF but at a faster Rate of Change. I posted about one recently, VALE, so feel free to check that one out. There are still a couple of gems I've found that I haven't posted about, so see if you can go find them on your own!! Always try to diversify portfolio's anyway but not in some random, bullshit way. Try to find sectors or stocks with high growth potential and diversify among a couple of them! Steel is a great diversification from Technology so if you have a Nasdaq heavy portfolio, feel free to add some steel to it! I wouldn't invest yet though, if we break 52 with good volume though, 57 should be achievable in no time and the 5-Day MA should begin to slope upward. Remember though, do not, and I mean ever, for anybody, follow their advice blindly. I'm not licensed in any way shape or form, just interested to share my ideas with y'all and start a discussion, so make sure to do your own DD! Any questions, leave them down below!
AMEX:SLXLong
by croganm
2