August 10, 2021, 2:38 pm EDT
What is the most important element for the $1 trillion dollar infrastructure projects? The answer is steel. From bridges, dams, highways to buildings, steel is essential to make all physical structures sustainable for years to come.
Its 113% sales growth from the most recent quarterly report is outstanding that reflected the strong demand for steel products.
Chart pattern shows a breakout today above 66 for a fresh new 52 week high in responding to US $1 trillion intrastate bill approval. There should be no doubt that parts of the $1 trillion and following $3.5 trillion projects would show up on STLD income statements for the months and years to come.
Timing should be right to join the upcoming rally of STLD with a sell-stop set at 62.