20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Morgan Stanley analysts reiterated that Steel Dynamics, Inc. (NASDAQ: STLD) is a “best idea,” despite the recent steel price decline. The analysts noted that the price adjustment is a “bump in the road,” as opposed to a “sustained cause for concern.”
Under that backdrop, the analysts defined current price as an “attractive entry point” heading into Q1 guidance, which they said might be weak. However, it may be a buy the news event as the market focuses on Q2 and beyond.
Because Steel Dynamics uses primarily scrap metals, the analysts noted that margins matter more than absolute steel prices. As Steel Dynamics depletes existing scrap supply, it will be able to replenish at much lower prices, helping to benefit margins.
Morgan Stanley reiterated its $28 price target for Steel Dynamics, a 44 percent upside from Friday’s closing price.
Shares traded recently at $19.17, down 1.5 percent.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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