Trading (NUE) With Integrated Risk Controls

January 04, 2024, 18:12 pm ET, BY Thomas H. Kee Jr- Editor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for NUE

• Buy NUE slightly over 162.45 target 176.72 stop loss @ 161.98 Details

The technical summary data tells us to buy NUE near 162.45 with an upside target of 176.72. This data also tells us to set a stop loss @ 161.98 to protect against excessive loss in case the stock begins to move against the trade. 162.45 is the first level of support below 172.07 , and by rule, any test of support is a buy signal. In this case, support 162.45 is being tested, a buy signal would exist.

• Short NUE slightly under 176.72, target 162.45, stop loss @ 177.23 Details

The technical summary data is suggesting a short of NUE as it gets near 176.72 with a downside target of 162.45. We should have a stop loss in place at 177.23though. 176.72 is the first level of resistance above 172.07, and by rule, any test of resistance is a short signal. In this case, if resistance 176.72 is being tested, a short signal would exist.

Swing Trading Plans for NUE

• Buy NUE slightly over 173.25, target 176.75, Stop Loss @ 172.75 Details

If 173.25 begins to break higher, the technical summary data tells us to buy NUE just slightly over 173.25, with an upside target of 176.75. The data also tells us to set a stop loss @ 172.75 in case the stock turns against the trade. 173.25 is the first level of resistance above 172.07, and by rule, any break above resistance is a buy signal. In this case, 173.25, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short NUE slightly near 173.25, target 162.45, Stop Loss @ 173.75. Details

The technical summary data is suggesting a short of NUE if it tests 173.25 with a downside target of 162.45. We should have a stop loss in place at 173.75 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 173.25, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for NUE

• Buy NUE slightly over 173.25, target 173.47, Stop Loss @ 172.85 Details

If 173.25 begins to break higher, the technical summary data tells us to buy NUE just slightly over 173.25, with an upside target of 173.47. The data also tells us to set a stop loss @ 172.85 in case the stock turns against the trade. 173.25 is the first level of resistance above 172.07, and by rule, any break above resistance is a buy signal. In this case, 173.25, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short NUE slightly near 173.25, target 162.45, Stop Loss @ 173.65. Details

The technical summary data is suggesting a short of NUE if it tests 173.25 with a downside target of 162.45. We should have a stop loss in place at 173.65 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 173.25, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for Nucor Corporation (NUE) available here: NUE.

NUE Ratings for January 04:

Term →	Near	Mid	Long
Rating	Weak	Strong	Neutral
P1	0	0	148.56
P2	173.47	173.25	162.45
P3	176.19	176.75	176.72

AI Generated Signals for NUE

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