Entry: with price at or slightly above 174.74
Volume: with volume greater than 1.47M
Target: 408.78 area (this is an area, no guarantee it reaches this price, but you should be selling on the way up)
Stop: Depending on your risk tolerance; Based on an entry of 174.74 & target of 208.02, a stop at 163.65 gets you 2/1 Reward to Risk Ratio.
This LONG swing...
We'll have to see how it plays out but with great momentum and with a good fundamental analysis, could see Nucor perform its way out of this bull pattern to a nice target.
A bull structure dominant above the slight up channel in grey
I expect a breakout from this structure bullishly
If no breakout then a retest of the up channel in grey is fine
Daily chart
Another successful Wheel Trade on NUE:
Tradingplan á la Rockwell Trading:
Look for stock that is lower than yesterday
Check the chart for a support level
Check the fundamentals of the underlying
Check correlation to your portfolio
Don't be scared if you get the stock assigned
Calculate the strike for a decent annualized ROI
Trade ENTRY:
Entry:...
This one is a bit messy with all the trendlines and auto fib retracement tool, so bear with me. NYSE:NUE still looks like it's in an overall decline. The three blue arcs appear to be a head and shoulders pattern. Meanwhile, in the short term there was a wedge pattern that developed in late April and instead of the daily support holding in broke on 4.25 and...
This ticker popped up on my screener set based on strength.
As long price is above the downtrend formed with symmetrical triangle, target is $300.
Noticeable pattern: symmetrical tri
It bounced off the 200 day MA and now in a 2-2 continuation.
Looks like it wants that gap fill up to the $156.24 PL.
Currently inside on the week and at the bottom of uptrend.
ATR is $6.20
I like the $155C 3/24 avg 1.10
This isn't trading advice for educational purposes only. Please do your own due diligence.
Metal 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...
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%.
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...
