"The stock has pulled back sharply over the last several sessions, from a 52-week high of 103.80 set on December 10th, to yesterday's closing price of 86.03. I believe this pullback is going to offer us a nice buying opportunity for this money making steel company. Shares are almost exactly at the bottom of their upward trend. Notice the increasingly wild swings starting in mid-October, with higher highs, higher lows, and increased volatility. That is an extremely bullish chart, with what is likely a good entry point being presented. This is not necessarily a ""buy"" right here, though, at least not yet. It needs to find support and resume the upward trend. The 50 DMA is at 81.90, a full 4.00 per share below where it is currently trading. I would be a buyer of this only if it starts to resume its upward trend. I would use a medium tight trailing stop of around 3%."