N1UE34 trade ideas
Nucor Could Be Inching Toward a BreakoutMetal stocks have fought higher all quarter, and now a key steelmaker may be attempting a breakout: Nucor.
The first pattern on today’s chart is the series of higher lows since late last month. NUE was stuck below $137 (the close of on October 26) for several weeks, which produced an ascending triangle. But prices broke out on November 10.
Second is the summer peak around $146. The stock is approaching that level. A close above it could draw some buyers from the sidelines.
Third, the recent consolidation took place above the 200-day simple moving average (SMA). That may suggest its longer-term trend is bullish.
Speaking of longer-term trends, notice the higher lows in July and September versus January.
Finally, MACD has been positive almost all quarter.
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$NUE with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $NUE after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 80%.
orderflow war warningsaccording orderlfow steel will go up and because of war warnings steel have to go up
Ugly Top (s)Multiple tops with a recent Triple Top.
Price is still above the Neckline which is strong support until broken. The neckline is usually drawn where the shoulders touch down before price goes up once again so the neckline has served as support on multiple occasions for NUE.
Pattern valid with a break of the neckline and a confirmed downtrend. Some wait for the retest of the neckline as it is often retested after being broken.
No recommendation.
Short interest is around 3.25%. Short with a break of the neckline and a confirmed downtrend.
No recommendation.
9/11/22 NUENucor Corporation ( NYSE:NUE )
Sector: Non-Energy Minerals (Steel)
Market Capitalization: 37.582B
Current Price: $143.56
Breakout price: $144.60
Buy Zone (Top/Bottom Range): $142.30-$134.95
Price Target: $152.50-$154.60
Estimated Duration to Target: 18-20d
Contract of Interest: $NUE 10/21/22 145c
Trade price as of publish date: $7.65/contract
$NUE with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $NUE after a Positive over reaction following its earnings release placing the stock in drift C with an expected accuracy of 37.5%.
NUE - Steel heating up.....againSteel and materials sector heating up again. Pullbacks light on volume and constructive. Cup with no handle breakout?
You don't need to know what's going to happen next to make money ~Mark Douglas
Lose like a pro and keep trading, or lose like a novice and quit ~Mark Ritchie
$NUE D$NUE D , sharp falling wedge. If get a breakout target around 157 for measured move. I have level below if break that then flip short since pattern fail then. Can play X since both steel companies move similarly.
Log scale - useful tipchart on the left - log scale.
You may clearly see why it is useful to check while analysing longer-term frames.
Ideal trend line reaction. as opposed to usual chart
Head and shoulders bear flag Short $NueNucor was driving me nuts the last 3 months constantly setting all time highs (while the rest of the market bled out) when their last earnings had lowered guidance that would have crashed any other stock.
Twice at new records I bought puts, but chickened out and sold early for losses when they kept rebounding back to new highs again. Anyways I saw the same options today worth a couple grand more than i sold for, and that’s with theta decay of short dated options. So I did some TA and belief the risk reward is still worth buying puts or shorting, especially if you catch it when it’s going up.
So anyways, from a TA standpoint they are a little overextended and just finished an a 12345 motive wave and an ABC corrective wave pattern so the first couple leges could be choppy before the next drop, but it’s coming. The target of the bear flag was roughly the same as the head and shoulders:
Analysts give it a fair price of $60, I have it crashing to $95 minimum(the measured target). Hopefully it goes further. Got myself some puts one more time, and as usual they are starting off up.
I’m not going to paper hand this time. I believe in the TA. I respect the patterns. I trust the fundamentals will bring the price where it belongs.
It's a CLEAR BUY, Buyers Coming INThe price already touched the support of the UPTREND, and you should BUY IT NOW! You may earn more than 8% if you go LONG at around $160, and sell when NUE reaches the resistance of the UPTREND, which is about $185. RSI currently at 52. ACT NOW to grab your chance :) Good Luck
Not particularly tight yet but...Could this be one of those MFs that take off the moment it touches the rising 10MA?
We will see, ROGER.
NYSE:NUE
Possible Bo looging good again. ON watch.. ... will need to break with some vol and of course market needs to Be there.
$NUE Interesting Spot HereI've added $NUE to my larger list over the weekend and now pulling it in to my secondary list.
It had 6 weeks up in a row from the bottom breaking through a large double bottom base.
It's now consolidating in a small ranged box right above that pattern. Interesting spot to watch.
$NUEWhy am i interested?
Change in color of bar to Blue.
There was a sell before.
False bar on top.
CCI is green.
Oscillator 5.35 is bullish.
ATR is 5.7 Bar height is 5
so .75*ATR = 3.8 and 2*ATR = 10.1
Now Bar height is between 3.8 and 10.1.
So a buy @122.10 (Previous box on left) for for 125 and 134.
Only one problem. A "V" shape recovery.
