While U.S. Steel (X) plunged Wednesday after reporting a stunning loss, Steel Dynamics (STLD) has shown resilience.
It initially fell in the morning, but found support at the 50-day line and rebounded into positive territory.
The stock is currently forming a consolidation with a 40.27 entry. Look for Steel Dynamics to complete the base and break out in heavy trade at least 40% above average.
The stock earns a 97 EPS Rating, meaning its recent quarterly and annual earnings growth is outpacing 97% of all stocks.
Its Accumulation/Distribution Rating of B shows moderate buying by institutional investors over the last 13 weeks.
In Q1, the company reported 215% earnings-per-share growth and has posted average gains of 258% over the last three reports.
Revenue growth climbed 36%, up from 20% in the prior quarter. That marks five quarters of rising gains.
Steel Dynamics holds the No. 1 rank among its peers in the Steel-Producers industry group. Nucor (NUE) and Ternium (TX) are also among the group's highest-rated stocks.
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