NUCOR CORP (NUE) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:NUE - US6703461052 - Common Stock
Taking everything into account, NUE scores 10 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, NUE is showing a nice and steady performance.
Besides having an excellent technical rating, NUE also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 169.41. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 166.48, a Stop Loss order could be placed below this zone.
More info and screens
143.24
When analyzing the support we can see 3 important areas.
- A support zone ranging from 164.54 to 166.48. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 157.04 to 159.14. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 144.69 to 145.09. This zone is formed by a combination of multiple trend lines in multiple time frames.
We found 1 important resistance area.
- A resistance zone ranging from 169.41 to 169.41. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for NUE is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for NUE is up. |
| ChartMill Relative Strength | 88.39 | POSITIVE | NUE has a high relative strength, it outperformed 88.39% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of NUE is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of NUE is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of NUE is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 58.98 | NEUTRAL | The RSI value for NUE is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.17 | NEGATIVE | The MACD value suggests NUE has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 72.88 | NEUTRAL | The Stochastics value for NUE is a neutral value. |
| Average True Range in percent/ATR (20) | 2.5 | MEDIUM VOLATILITY | The ATR as a percentage value for NUE suggests some volalility. |
| Average Directional Index/ADX (14) | 27.4 | POSITIVE | The high ADX value value for NUE suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 169.42 | 164.53 | 4.89 (2.89%) | 25.00% |
| An entry @169.42. This is a Buy Stop order right above the resistance zone. | An exit @164.53. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 4.89 points, which is 2.89%. | For a 0.72% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of NUE. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
167.88
+3.07 (+1.86%)
NUCOR CORP / NUE FAQ
What is the ChartMill technical rating of NUCOR CORP (NUE) stock?
ChartMill assigns a technical rating of 10 / 10 to NUE.
What is the current trend direction of NUCOR CORP (NUE) stock?
The current trend direction for NUCOR CORP (NUE) is Bullish.
What is the RSI signal for NUCOR CORP (NUE) stock?
NUCOR CORP (NUE) has an RSI value of 58.9793. This indicates that the stock is currently neutral.
What is the MACD signal for NUCOR CORP (NUE) stock?
The MACD indicator for NUCOR CORP (NUE) has a value of -0.174303, indicating a bearish trend.
Can you provide the short term momentum for NUCOR CORP?
The short term momentum for NUCOR CORP (NUE) is positive.