NUE - Failed To ClimbThe Reaction line was not met. ...so, it's going more in the opposite direction then from where it came...below 46.80 is my bet. P!Shortby Tr8dingN3rdUpdated 4
NUE: The 7th Basic Metals Component In XME That Is WeakNucor-(Steel). Nucor-manufactures steel and steel products. Co. also produces direct reduced iron-known as DRI-for use in its steel mills. Through its The David J. Joseph Company subsidiary and its affiliates, Co. also processes ferrous and nonferrous metals and brokers ferrous and nonferrous metals, pig iron, hot briquetted iron and-DRI. Co.'s primary customers are located in North America, but Co. is doing business outside of North America as well. Co.'s operations include several international trading companies that buy and sell steel and steel products manufactured by it and others. Co. reports its results in three segments: steel mills, steel products and raw materials. NUE-is a component of-XME. XME-has been weak for the past month. I suspect the basic metals components in-XME (iron-copper-steel-zinc-aluminum) are weaker than the gold-and-silver miners. For-NUE: The indicator on the top of the page is RSI / Stochastic , and this is weak. The top middle indicator is vortex and it is weak (red over green). The Lower (bar-type) indicator measures the "phase energy" of the stock , and this is weak, now below zero. The Alligator jaws have closed. This indicates loss in upward momentum and a likely change in trend. Until these indicators reverse to the upside, this stock is a sell. My conclusion: basic metals stocks are weak. This weakness will cause ETF-weakness in-XME. Good luck to you. Don. Shortby 649bruno6
XME Components Analysis Number 8: NUE (Nucor)I have recently published a series of bullish articles about-XME. NUE-is one of the components of-XME. The strength of this chart speaks for itself - It is one of the metals stocks which is contributing to the strength in-XME. XME-is the-SPDR S&P-Metals and Mining ETF-which offers broad exposure to industrial-and precious metals and mining, with a strong emphasis at the lower end of the capitalization spectrum. It holds 25 components in an equal weighted market cap. I believe by showing you some of the individual components of-XME you will understand why I am very bullish towards the upward move in-XME. Don. Longby 649bruno3
NUE: Looking For Shorts Into The Trading WeekLooking for nice shorts off this level Best of luck TomShortby TomProTrader4
Continues to consolidate around a major break out level---- Major upside potential if it gets mo-mo goingby Robertlesnicki0
Approaching short term down trend line---- Looking for it to break above. Worth watchingby Robertlesnicki0