$NUE with a neutral outlook following its earnings #StocksThe PEAD projected a neutral outlook for NYSE:NUE after a negative over reaction following its earnings release placing the stock in drift D with an expected accuracy of 60%.
NUE trade ideas
NUE ReboundTracking the RSI and what looks like the early signs of a breakout in the downtrend.
Higher risk here as it's not overly clean, but worth taking a starter.
Take the Under: $NUENYSE:NUE is scheduled to announce earnings in the after market today 22 July 2024. Nucor pre-releases their estimated earnings per share which for the second quarter they are expected to report $2.30 in comparison to $5.81 per share last year.
With the company's guidance the 2024 expected EPS is $10.42. For 2025 analyst expect an EPS of 12.01. That translates to a EPS of about 15%.
10.42*15 = $156.3
A price of $156.3 doesn't translate to much downside with only a 3%. However that is based on analyst estimates which have underperformed for the last two quarters.
If you average the P/E ratio of Nucor over the last 7 years the P/E equals about 11. If we apply that to the 2024 estimated earnings it would be:
10.42*11 = $114
I would use these two P/E estimates of $156.3 and $114 as upper and lower bounds for Nucor.
Targets for trade are:
#1: $140
#2: $130
Stop Loss:
#1: $170
Entry Point:
>= $160
$NUE Swing Trade IdeaSwing trade idea NYSE:NUE CCI indicates oversold where previous oversold position enables the price to bounce and head towards the upper parallel channel. Assumptions assumptions! Ka-ching likely. Exit if it goes out of channel.
NUE SHORT! From Trend RetestNUE Head & Shoulders , SHORT from trend Retest
Short Entry from Retest Only!
Entry: $168.80
STOP LOSS: $173.33
TAKE: $142.81
NUE Entry, Volume, Target, StopEntry: with price at or slightly above 174.74
Volume: with volume greater than 1.47M
Target: 408.78 area (this is an area, no guarantee it reaches this price, but you should be selling on the way up)
Stop: Depending on your risk tolerance; Based on an entry of 174.74 & target of 208.02, a stop at 163.65 gets you 2/1 Reward to Risk Ratio.
This LONG swing trade idea is not trade advice and is strictly based on my ideas and technical analysis. No due diligence or fundamental analysis was performed while evaluating this trade idea. Do not take this trade based on my idea, do not follow anyone blindly, do your own analysis and due diligence. I am not a professional trader.
Nucor repping a big bull flag on larger time frameWe'll have to see how it plays out but with great momentum and with a good fundamental analysis, could see Nucor perform its way out of this bull pattern to a nice target.
NUE - Bull StructureA bull structure dominant above the slight up channel in grey
I expect a breakout from this structure bullishly
If no breakout then a retest of the up channel in grey is fine
Daily chart
Short Term Wheel Trade on NUEAnother successful Wheel Trade on NUE:
Tradingplan á la Rockwell Trading:
Look for stock that is lower than yesterday
Check the chart for a support level
Check the fundamentals of the underlying
Check correlation to your portfolio
Don't be scared if you get the stock assigned
Calculate the strike for a decent annualized ROI
Trade ENTRY:
Entry: 2023-05-24 09:52
Total premium netto: $ 118,64
Contracts: 3
Type: Short Put
Strike: 129
Expiry: 2023-05-26
Trade EXIT:
2023-05-26 16:20
Expired worthless
ann. ROI: 118,64 / ( 129 * 300 ) * 365 / 2 = 55,94%
Nucor in decline or consolidationThis one is a bit messy with all the trendlines and auto fib retracement tool, so bear with me. NYSE:NUE still looks like it's in an overall decline. The three blue arcs appear to be a head and shoulders pattern. Meanwhile, in the short term there was a wedge pattern that developed in late April and instead of the daily support holding in broke on 4.25 and hasn't recovered since. The momentum of the declination appears to be slowing, so we could see an extended consolidation phase instead of greater declines.
$NUE Head & Shoulders Pattern NYSE:NUE Head & Shoulders Pattern triggered, looking for this stock to head toward a double bottom
NUE - Steel StockAnother pattern that is closely on watch for a trigger.
A break of this neckline does not bode well for this company
As of now Nuecor is holding on
NUCOR Stock Chart Fibonacci Analysis 033023Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 152/61.80%
$NUE - Long Trade IdeaThis ticker popped up on my screener set based on strength.
As long price is above the downtrend formed with symmetrical triangle, target is $300.
Noticeable pattern: symmetrical tri
$NUE Daily chart looking good for a swing trade It bounced off the 200 day MA and now in a 2-2 continuation.
Looks like it wants that gap fill up to the $156.24 PL.
Currently inside on the week and at the bottom of uptrend.
ATR is $6.20
I like the $155C 3/24 avg 1.10
This isn't trading advice for educational purposes only. Please do your own due diligence.
Nucor Could Be Inching Toward a BreakoutMetal stocks have fought higher all quarter, and now a key steelmaker may be attempting a breakout: Nucor.
The first pattern on today’s chart is the series of higher lows since late last month. NUE was stuck below $137 (the close of on October 26) for several weeks, which produced an ascending triangle. But prices broke out on November 10.
Second is the summer peak around $146. The stock is approaching that level. A close above it could draw some buyers from the sidelines.
Third, the recent consolidation took place above the 200-day simple moving average (SMA). That may suggest its longer-term trend is bullish.
Speaking of longer-term trends, notice the higher lows in July and September versus January.
Finally, MACD has been positive almost all quarter.
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$NUE with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $NUE after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 80%.
orderflow war warningsaccording orderlfow steel will go up and because of war warnings steel have to go up
Ugly Top (s)Multiple tops with a recent Triple Top.
Price is still above the Neckline which is strong support until broken. The neckline is usually drawn where the shoulders touch down before price goes up once again so the neckline has served as support on multiple occasions for NUE.
Pattern valid with a break of the neckline and a confirmed downtrend. Some wait for the retest of the neckline as it is often retested after being broken.
No recommendation.
Short interest is around 3.25%. Short with a break of the neckline and a confirmed downtrend.
No recommendation.
9/11/22 NUENucor Corporation ( NYSE:NUE )
Sector: Non-Energy Minerals (Steel)
Market Capitalization: 37.582B
Current Price: $143.56
Breakout price: $144.60
Buy Zone (Top/Bottom Range): $142.30-$134.95
Price Target: $152.50-$154.60
Estimated Duration to Target: 18-20d
Contract of Interest: $NUE 10/21/22 145c
Trade price as of publish date: $7.65/contract
