When the Price of Nucor $NUE Talks, People Listen

June 20, 2023, 02:00 am ET, BY Quentin W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for NUE

• Buy NUE slightly over 138.82 target 157.56 stop loss @ 138.42 Details

The technical summary data tells us to buy NUE near 138.82 with an upside target of 157.56. This data also tells us to set a stop loss @ 138.42 to protect against excessive loss in case the stock begins to move against the trade. 138.82 is the first level of support below 151.41 , and by rule, any test of support is a buy signal. In this case, support 138.82 would be being tested, so a buy signal would exist.

• Short NUE slightly under 157.56, target 138.82, stop loss @ 158.02 Details

The technical summary data is suggesting a short of NUE as it gets near 157.56 with a downside target of 138.82. We should have a stop loss in place at 158.02though. 157.56 is the first level of resistance above 151.41, and by rule, any test of resistance is a short signal. In this case, if resistance 157.56 is being tested, so a short signal would exist.

Swing Trading Plans for NUE

• Buy NUE slightly over 151.65, target 157.56, Stop Loss @ 151.21 Details

If 151.65 begins to break higher, the technical summary data tells us to buy NUE just slightly over 151.65, with an upside target of 157.56. The data also tells us to set a stop loss @ 151.21 in case the stock turns against the trade. 151.65 is the first level of resistance above 151.41, and by rule, any break above resistance is a buy signal. In this case, 151.65, 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 151.65, target 138.82, Stop Loss @ 152.09. Details

The technical summary data is suggesting a short of NUE if it tests 151.65 with a downside target of 138.82. We should have a stop loss in place at 152.09 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, 151.65, 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 151.65, target 154.26, Stop Loss @ 151.3 Details

If 151.65 begins to break higher, the technical summary data tells us to buy NUE just slightly over 151.65, with an upside target of 154.26. The data also tells us to set a stop loss @ 151.3 in case the stock turns against the trade. 151.65 is the first level of resistance above 151.41, and by rule, any break above resistance is a buy signal. In this case, 151.65, 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 151.65, target 149.96, Stop Loss @ 152. Details

The technical summary data is suggesting a short of NUE if it tests 151.65 with a downside target of 149.96. We should have a stop loss in place at 152 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, 151.65, 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.

This is a snapshot. Real Time Updates are available on our NUE Page.

NUE Ratings for June 20:

Term →	Near	Mid	Long
Rating	Strong	Strong	Strong
P1	0	0	138.82
P2	149.96	151.65	157.56
P3	154.26	157.82	177.49

Support and Resistance Plot Chart for NUE

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This is not EF Hutton, but it could be more #powerful.  A picture speaks a thousand words, they say, and the #priceaction of Nucor (NYSE: NUE) tells an important story.  The movement tells us where investors perceive value, or the lack of it, and if we pay attention we can capture opportunity.  The data below for NUE can be used as an example, and demonstrate how to do this for other stocks too.  This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports.