NUCOR CORP (NUE) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:NUE - US6703461052 - Common Stock
We assign a technical rating of 8 out of 10 to NUE. 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.
NUE has an excellent technical rating, but the quality of the setup is only medium 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 152.76 to 154.90. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @142.65 from a horizontal line in the daily time frame.
- A support zone ranging from 139.54 to 139.62. 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.
We found 1 important resistance area.
- Resistance @159.50 from a horizontal line in the weekly time frame.
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 | 73.86 | POSITIVE | NUE has a high relative strength, it outperformed 73.86% 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) | 62.73 | NEUTRAL | The RSI value for NUE is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.73 | POSITIVE | The MACD value suggests NUE has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 81.09 | OVERBOUGHT | The high Stochastics value suggests NUE may be overbought. |
| Average True Range in percent/ATR (20) | 2.69 | MEDIUM VOLATILITY | The ATR as a percentage value for NUE suggests some volalility. |
| Average Directional Index/ADX (14) | 30.83 | POSITIVE | The high ADX value value for NUE suggests a strong trend. |
159.45
-3.09 (-1.9%)
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 62.7298. This indicates that the stock is currently neutral.
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 154.9 and a resistance level at 159.5. Check the full technical report for our detailed analysis of NUE support and resistance levels.