This Steel-Producer might be the percfect example of good technicals and good fundamentals.
After a good bull run from March to August is been forming a base that has been tightening from left to right, with low volume on down days and high volume on up days. That is the kind of action I like to see before a buy signal.
According to @TradeStation, for the nine...
$NUE has a super awesome setup going into the new year.
We've got a textbook bull pennant forming atop a volume shelf, meaning there likely isn't much downside left in this name.
Even after the guidance cuts, $NUE is still set to report an amazing quarter, meaning we've got both strong fundamentals and technicals supporting this name.
Long $NUE.
$NUE is a clear leader in the steel industry.
Working on the right side of a nice 4 month base.
Been watching this for a while. Looking for it to quiet down a bit here and tighten up below the $122 pivot (orange bars).
if it does, this becomes big focus stock.
NYSE:NUE
Two things may happen for this coming weeks.
1. Possible drop down, if close and trade below the neck line and don't break R1 & R2.
#Head and Shoulders
2. If break R1 & R2. Possible up to 80% Up from break out point.
#Ascending Broadening Wedge
here is one of the steel stocks i'm watching. $NUE
Would like it to tighten up here instead of just coming out today.
50 MA slopping down, so few sideway days will help it turn around.
Se identifica el patrón doble tope de la siguiente forma:
Inicio de la tendencia: 30/05/18
Primer punto de resistencia: 14/06/18
Inicio de la tendencia bajista y llega al punto de soporte: 28/06/18.
Inicio de la tendencia alcista para llegar a la segunda resistencia: 24/07/18.
Inicio de la tendencia bajista para iniciar tendencia lateralizada el 14/08/18.
Steel play. Nice rounding bottom, impulsive move up and slow grinding down to make a flag. Needs good confirmation for a trade. Kudos to @TaPlot for pointing out this trade. Great guy to follow on twitter.
According to the book Good to Great by Jim Collins, the stock achieved a fifteen-year result 5.16 times higher than the market in the 20th century. I want to update that comparison with 21st-century data to see how stocks have progressed further. For more details see my blog, an article should come out soon on this topic.
According to the book Good to Great by Jim Collins, the stock achieved a fifteen-year result 5.16 times higher than the market in the 20th century. I want to update that comparison with 21st-century data to see how stocks have progressed further. For more details see my blog, an article should come out soon on this topic.
Look for a successful retest on bottom of channel for trade entry. Not my type of trade to enter this after its ran this much, but has potential for scalp. ( Do your own research/ Not financial advice)
Steel was very strong last week and this stock moved up about 20%. Volume shows that this stock is under accumulation by larger players. Volume for the week was the most in almost 10 years which indicates a change in character and the want for this name. Stock is extended from current KMA and need some time to digest these gains from the prior week.
Will want...
Strong looking chart for NUE. Daily RSI successfully bounced of support at 61.8. MACD is on the rise. As long as the shares stay above 61.8, there could be additional upside ahead as was the case in Feb and April of 2021.
I would say YES BUY ... here are the reasons
1) steel will benefit greatly in the housing boom
2) steel will benefit from Biden\s Infra spend in highways, railways, structures etc
Nucor touched on the MA100 line and move swiftly up. Nice consistent volume on the rise.
But how is it compared to MT ?
