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STLD Forms 12-Week Cup Base; Uptrend Intact Near 282.12 Pivot

Posted on by Eben@CANSLIM Research
STLD daily stock chart with 10, 20, 50, 150 and 200-day moving averages, volume and RS line versus SPY — CANSLIM Research
Eben@CANSLIM Research's avatarEben@CANSLIM Research

Steel Dynamics (STLD) is consolidating in a 12-week Cup Base after a strong advance, with the stock holding above a rising 30-week moving average. The pattern shows a 22.4% depth and a pivot at 282.12, while the broader trend template passes 7 of 8 checks, confirming a Stage 2 uptrend. Overall sentiment is bullish, with the market focused on a potential breakout from this constructive base.

Technical Analysis

As of 2026-09-04 · Close $242.06

Stage Analysis

Stage 2 (Advancing) — Price holding above a rising 30-week MA — uptrend intact (30-week MA 6-week slope: 5.06%)

Detected Patterns — What the Market Is Watching

  • Cup Base — depth 22.4%, length 12 weeks, pivot $282.12. Base formed from 2026-06-12 (left-side high) to 2026-09-04, with the low of $219.0 set on 2026-08-20

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