With a potential of $2T to be invested on infrastructure, NUE, a producer of steel and related products, could see significant growth.
The current trajectory looks good:
- RS Line at new high.
- Price at new high.
- Earnings and sales growth.
- Volume is well above average.
Voyager Digital is an exchange focused on cryptocurrency. This view of the weekly chart shows very positive action.
■ Price above 10-week SMA for 20 weeks.
■ RS Line at new high.
■ Short and long-term trendlines of RS Line heading up.
■ New high price reached.
■ Nearly all volume bars have been up weeks for 20 week.
For those unfamiliar with the RS Line, it is...
Here's a visual summary comparing and contrasting a spike in the VIX versus a swell (slow move up).
When the VIX spiked, the market continued to move up. When the VIX swelled (a slower move up), the market sold off.
This concept, and the charts, were shared by Jim Cramer on MadMoney (CNBC) based on an analysis by Mark Sebastian.
The concept of tightening price action, lower highs and higher lows, along with volume declining, will often lead to a breakout that follows in the direction of the prior trend. William Jiler in 1962 referred to this as a coil. Mark Minervini describes similar price action as a volatility contraction pattern (VCP). It is also known as a symmetrical triangle.