Nucor NUE Investment Report

September 12, 2022, 04:00 am ET, BY Jeff W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

This report was produced using AI developed by Stock Traders Daily.  Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves.  This methodology is also applied to Index options, ETFs, and futures.  The objective of this specific report is to optimize trading in Nucor (NYSE: NUE) while incorporating prudent risk controls.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for NUE change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

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Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if NUE is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for NUE too.  All of these are offered below the Summary Table.

Longer Term Trading Plans for NUE

• Buy NUE slightly over 136.62 target 159.31 stop loss @ 136.23 Details

The technical summary data tells us to buy NUE near 136.62 with an upside target of 159.31. This data also tells us to set a stop loss @ 136.23 to protect against excessive loss in case the stock begins to move against the trade. 136.62 is the first level of support below 143.56 , and by rule, any test of support is a buy signal. In this case, support 136.62 is being tested, a buy signal would exist.

• Short NUE under 159.31, target 136.62, stop loss @ 159.77 Details

The technical summary data is suggesting a short of NUE as it gets near 159.31 with a downside target of 136.62. We should have a stop loss in place at 159.77though. 159.31 is the first level of resistance above 143.56, and by rule, any test of resistance is a short signal. In this case, if resistance 159.31 is being tested, a short signal would exist.

Swing Trading Plans for NUE

• Buy NUE slightly over 159.31, target n/a, Stop Loss @ 158.85 Details

If 159.31 begins to break higher, the technical summary data tells us to buy NUE just slightly over 159.31, with an upside target of n/a. The data also tells us to set a stop loss @ 158.85 in case the stock turns against the trade. 159.31 is the first level of resistance above 143.56, and by rule, any break above resistance is a buy signal. In this case, 159.31, 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 near 159.31, target 139.70, Stop Loss @ 159.77. Details

The technical summary data is suggesting a short of NUE if it tests 159.31 with a downside target of 139.70. We should have a stop loss in place at 159.77 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, 159.31, 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 143.62, target 159.31, Stop Loss @ 143.28 Details

If 143.62 begins to break higher, the technical summary data tells us to buy NUE just slightly over 143.62, with an upside target of 159.31. The data also tells us to set a stop loss @ 143.28 in case the stock turns against the trade. 143.62 is the first level of resistance above 143.56, and by rule, any break above resistance is a buy signal. In this case, 143.62, 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 near 143.62, target 140.48, Stop Loss @ 143.96. Details

The technical summary data is suggesting a short of NUE if it tests 143.62 with a downside target of 140.48. We should have a stop loss in place at 143.96 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, 143.62, 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.

NUE Ratings for September 12:

Term →	Near	Mid	Long
Rating	Weak	Neutral	Weak
P1	0	0	115.48
P2	140.48	130.26	136.62
P3	143.62	139.70	159.31

Support and Resistance Plot Chart for NUE

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