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Advanced TA SearchArchive - 5/3/2024 - Sign In to see current Signals. |
Nucor Corp. (NUE) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was the negative week for the Nucor Corp. (NUE). During the week, the NUE gave back -1.50 points, or -0.86%, and closed at 173.92 on Friday, May 3, 2024. NUE was trading at average weekly trading volume. NUE is a member of Materials Sector. Materials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry. Long-term trend: [See NUE long-term trend chart] A long-term uptrend had started on May 31, 2023 at 129.79 and reached 203.00 on April 9, 2024. NUE gained -73.21 points, or -56.41%, in 44 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 153.74 and resistance is at 206.37. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend. Medium-term trend: [See NUE medium-term trend chart] A medium-term downtrend had started on April 9, 2024 at 203.00 and reached 167.73 on May 1, 2024. NUE lost 35.27 points, or 17.37%, in 3 weeks. The price is now at the 17.55% retracement level. Weekly Technical Indicators: [See NUE weekly technical indicators chart] Weekly technical indicators are neutral. The weekly MACD line is below its signal line since April 19, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help. Short-term trend: [See NUE short-term trend chart] A short-term uptrend had started on May 1, 2024 at 167.73 and reached 174.63 on May 3, 2024. NUE gained -6.90 points, or -4.11%, in 2 days. The price is now at the 10.29% retracement level. Daily Technical Indicators: [See NUE daily technical indicators chart] Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help. The daily MACD line is below its signal line since April 9, 2024. During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level. The distance between the Bollinger Bands (26.22%) is close to one year high (21.21%). It is 136.66% higher then one year average. It indicates the period of high volatility of the stock price, and it is considered a sell signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band. During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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