$STLD is pushing higher on the right side of its ~5 month base!

Notes:
* Very strong up trend on all time frames
* Great earnings track record
* Basing for the past ~5 months
* Was rejected around the ~85.3 area and pulled back to its 20 day EMA
* Now it's broken above that resistance level with high volume
* Printed a pocket pivot indicating institutional demand
* Seems to have also formed an inverse head and shoulders pattern
* Showing lots of strength and accumulation

Technicals:
Sector: Basic Materials - Steel
Relative Strength vs. Sector: 3.15
Relative Strength vs. SP500: 1.44
U/D Ratio: 1.75
Base Depth: 55.04%
Distance from breakout buy point: -13.12%
Volume 148.59% above its 15 day avg.

Trade Idea:
* You can enter now as the price is just breaking above resistance with volume
* If you're looking for a better entry you may find one on the retest of ~85.3

* This stock usually has local tops when the price closes around 21.32% above its 50 EMA
* Consider selling into strength if the price closes 21.12% to 21.52% (or higher) above its 50 EMA
* The last closing price is 12.53% away from its 50 EMA