Here’s Why Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) Dropped -1.3%

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In its latest trading session, Schnitzer Steel Industries, Inc. (NASDAQ:SCHN) dropped by -1.3% – here is what that looked like (as of 2019-12-04):

What’s the reason for these moves? To understand this better, it is helpful to analyze some technical indicators. The most interesting and telling are these ones:

A Money Flow Index (MFI) of 50.725, a Relative Strength Index (RSI) of 50.0, a True Strength Index (TSI) of -100.0, a Moving Average Convergence Divergence (MACD) of 0.015, an Average Directional Movement Index (ADX) of unknown, an Average True Range (ATR) of 0.497, an Accumulation/Distribution Index (ADI) of 0.497, an On-Balance Volume (OBV) of 428.968, and a Chaiikin Money Flow (CMF) of 22.02. 18.111

Now let’s take all these indicators into account. Consulting Trading View, we can conclude the following:

So when putting all the technical indicators together, this is what you get. Note this is technical analysis only! You should do fundamental research as well, and do not just rely on this – we take no responsibility for any losses incurred if you buy or sell based on the above.