NUCOR CORP (NUE) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:NUE - US6703461052 - Common Stock
Overall NUE gets a technical rating of 8 out of 10. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, NUE is only an average performer.
Although NUE has an excellent technical rating, it does not present a decent entry opportunity at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
131.97
4 important support areas can be observed.
- A support zone ranging from 151.50 to 152.16. 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 142.49 to 145.03. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 138.43 to 138.47. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @133.30 from a horizontal line in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 159.50 to 159.50. 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 | 63.01 | NEUTRAL | NUE is not amongst the best or worst performers 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) | 70.73 | OVERBOUGHT | The high RSI value suggests NUE may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 1.1 | POSITIVE | The MACD value suggests NUE has a positive trend. |
| Stochastics (14,3) | 95.54 | OVERBOUGHT | The high Stochastics value suggests NUE may be overbought. |
| Average True Range in percent/ATR (20) | 2.75 | MEDIUM VOLATILITY | The ATR as a percentage value for NUE suggests some volalility. |
| Average Directional Index/ADX (14) | 22.04 | NEUTRAL | The ADX value for NUE suggests a possible start of a new trend. |
159.49
+0.36 (+0.23%)
NUCOR CORP / NUE FAQ
What is the ChartMill technical rating of NUCOR CORP (NUE) stock?
ChartMill assigns a technical rating of 8 / 10 to NUE.
What is the trend direction for 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 70.7303. This indicates that the stock is currently overbought.
What is the short term momentum for NUE stock?
The short term momentum for NUCOR CORP (NUE) is positive.
What are the support and resistance levels for NUCOR CORP (NUE) stock?
NUCOR CORP (NUE) has a support level at 152.16 and a resistance level at 159.5. Check the full technical report for our detailed analysis of NUE support and resistance levels.