Nucor NUE Technical Data

January 25, 2023, 09:15 am ET, BY William C.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for NUE

• Buy NUE slightly over 134.51 target 157.80 stop loss @ 134.12 Details

The technical summary data tells us to buy NUE near 134.51 with an upside target of 157.80. This data also tells us to set a stop loss @ 134.12 to protect against excessive loss in case the stock begins to move against the trade. 134.51 is the first level of support below 152.01 , and by rule, any test of support is a buy signal. In this case, support 134.51 is being tested, a buy signal would exist.

• Short NUE slightly under 157.80, target 134.51, stop loss @ 158.26 Details

The technical summary data is suggesting a short of NUE as it gets near 157.80 with a downside target of 134.51. We should have a stop loss in place at 158.26though. 157.80 is the first level of resistance above 152.01, and by rule, any test of resistance is a short signal. In this case, if resistance 157.80 is being tested, a short signal would exist.

Swing Trading Plans for NUE

• Buy NUE slightly over 153.37, target 157.80, Stop Loss @ 152.93 Details

If 153.37 begins to break higher, the technical summary data tells us to buy NUE just slightly over 153.37, with an upside target of 157.80. The data also tells us to set a stop loss @ 152.93 in case the stock turns against the trade. 153.37 is the first level of resistance above 152.01, and by rule, any break above resistance is a buy signal. In this case, 153.37, 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 153.37, target 134.51, Stop Loss @ 153.81. Details

The technical summary data is suggesting a short of NUE if it tests 153.37 with a downside target of 134.51. We should have a stop loss in place at 153.81 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, 153.37, 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 153.37, target 153.68, Stop Loss @ 153.01 Details

If 153.37 begins to break higher, the technical summary data tells us to buy NUE just slightly over 153.37, with an upside target of 153.68. The data also tells us to set a stop loss @ 153.01 in case the stock turns against the trade. 153.37 is the first level of resistance above 152.01, and by rule, any break above resistance is a buy signal. In this case, 153.37, 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 153.37, target 149.27, Stop Loss @ 153.73. Details

The technical summary data is suggesting a short of NUE if it tests 153.37 with a downside target of 149.27. We should have a stop loss in place at 153.73 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, 153.37, 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.

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NUE Ratings for January 25:

Term →	Near	Mid	Long
Rating	Strong	Strong	Neutral
P1	0	0	112.64
P2	149.27	153.37	134.51
P3	153.68	164.48	157.80

Support and Resistance Plot Chart for NUE

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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.