Dec. 17 at 2:31 AM
Actionable Trade Alert for
$NUE:
Market Context:
$NUE is currently trading at
$162.53, showing strong momentum as indicated by an RSI of 61.01, suggesting bullish sentiment. The stock is above its 30-day moving average (MA30) of 154.25 and 50-day moving average (MA50) of 148.78, indicating a positive trend. The recent high of
$168.07 provides a resistance level, while the low of
$131.32 gives a solid support reference.
Directional Bias: Bullish. The RSI indicates potential for further upward movement, and the stock is trading well above its MAs, reinforcing a bullish outlook.
Trade Plan:
- Suggested Entry:
$162.53 (current price)
- Stop Loss:
$158.88 (below recent support, approx. 2.0% risk)
- Take Profit Targets:
1.
$168.07 (60D High) - 3.4% ROI
2.
$173.00 - 6.4% ROI
3.
$190.00 - 17% ROI
This plan offers a solid risk-reward ratio with the potential for significant returns.
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