Nucor Corp $NUE, tight action might give buy signal soon
Updated
This Steel-Producer might be the percfect example of good technicals and good fundamentals.
After a good bull run from March to August is been forming a base that has been tightening from left to right, with low volume on down days and high volume on up days. That is the kind of action I like to see before a buy signal.
According to TradeStation, for the nine months ended 02 October 2021, NucorCorporation revenues increased 76% to 26.12B. Its quarterly results reflect a good Code 33, that's three quarters of accelerating earnings, sales and margins.
My firts buy would be just above $117.86 with 1/2 of my position sizing. If the price follows through the resistance lines I marked, I'll add up.
Its IBD RS rating is 95 and has a #1 ranking in its industry.
After a good bull run from March to August is been forming a base that has been tightening from left to right, with low volume on down days and high volume on up days. That is the kind of action I like to see before a buy signal.
According to TradeStation, for the nine months ended 02 October 2021, NucorCorporation revenues increased 76% to 26.12B. Its quarterly results reflect a good Code 33, that's three quarters of accelerating earnings, sales and margins.
My firts buy would be just above $117.86 with 1/2 of my position sizing. If the price follows through the resistance lines I marked, I'll add up.
Its IBD RS rating is 95 and has a #1 ranking in its industry.
Trade closed: stop reached
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