NUE trade ideas
Breakout stock watchafter consolidation above the moving averages, finally broke out. Looks good for continuation
NUE buy at 61.25I will keep updates from now on as best I can before the market close- 3:50pm est
1/4/17 buy nue at 61.25
NUE close today was right on 12/30/16 high of the red candle, one cent away from closing above that which I would prefer. But there was strong volume today and the materials xlb fund closed with a green candle above last lowest red as well.
NUE coming out of oversold STO with 50MA acting as support with green candle close -BUY
( 4 hr chart does show signs of potential pull back so there might be room to buy in lower)
I would sell half the shares at 67 and lock in 9% gain and let the rest run till I see weakness
I don't place stops because the end of the day decides what I'll do. If it closes below 50MA with oversold sto I would sell.
NUE - Failed To ClimbThe Reaction line was not met.
...so, it's going more in the opposite direction then from where it came...below 46.80 is my bet.
P!
NUE: The 7th Basic Metals Component In XME That Is WeakNucor-(Steel).
Nucor-manufactures steel and steel products. Co. also produces direct reduced iron-known as DRI-for use in its steel mills. Through its The David J. Joseph Company subsidiary and its affiliates, Co. also processes ferrous and nonferrous metals and brokers ferrous and nonferrous metals, pig iron, hot briquetted iron and-DRI. Co.'s primary customers are located in North America, but Co. is doing business outside of North America as well. Co.'s operations include several international trading companies that buy and sell steel and steel products manufactured by it and others. Co. reports its results in three segments: steel mills, steel products and raw materials.
NUE-is a component of-XME.
XME-has been weak for the past month.
I suspect the basic metals components in-XME (iron-copper-steel-zinc-aluminum) are weaker than the gold-and-silver miners.
For-NUE:
The indicator on the top of the page is RSI / Stochastic , and this is weak.
The top middle indicator is vortex and it is weak (red over green).
The Lower (bar-type) indicator measures the "phase energy" of the stock , and this is weak, now below zero.
The Alligator jaws have closed. This indicates loss in upward momentum and a likely change in trend.
Until these indicators reverse to the upside, this stock is a sell.
My conclusion: basic metals stocks are weak. This weakness will cause ETF-weakness in-XME.
Good luck to you. Don.
XME Components Analysis Number 8: NUE (Nucor)I have recently published a series of bullish articles about-XME.
NUE-is one of the components of-XME. The strength of this chart speaks for itself -
It is one of the metals stocks which is contributing to the strength in-XME.
XME-is the-SPDR S&P-Metals and Mining ETF-which offers broad exposure to industrial-and precious metals and mining, with a strong emphasis at the lower end of the capitalization spectrum. It holds 25 components in an equal weighted market cap.
I believe by showing you some of the individual components of-XME you will understand why I am very bullish towards the upward move in-XME.
Don.
NUE: Looking For Shorts Into The Trading WeekLooking for nice shorts off this level
Best of luck
Tom
Continues to consolidate around a major break out level---- Major upside potential if it gets mo-mo going
