The Hourly View for NUE
At the time of this writing, NUE (Get Ratings)’s price is down $-1.49 (-1.47%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Of note is that the 50 hour changed directions on NUE; it is now pointing up. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
Out of Steel Works Etc stocks, NUE ranks 41st in regards to today’s price percentage change.
NUE’s Technical Outlook on the Daily Chart
At the time of this writing, NUE’s price is down $-0.8 (-0.79%) from the day prior. NUE has seen its price go up 8 out of the past 10 days, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 50 day timeframe. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. Nucor Corp’s price action over the past 90 days can be seen via the chart below.
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The post Nucor Corp (NUE): Price Now Near $100.03; Daily Chart Shows An Uptrend on 20 Day Basis appeared first on ETF Daily News.
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