Nov. 13 at 1:24 AM
$NUE is currently trading at
$144.04 with a strong RSI of 61.03, indicating bullish momentum but approaching overbought territory. The price is above both the 30-day MA of 140.83 and the 50-day MA of 140.4, suggesting a positive short-term trend. The recent high of
$155.83 and low of
$131.32 over the last 60 days indicates a healthy trading range, providing potential for upward movement.
Directional bias is bullish due to the price action above key moving averages and the favorable RSI. Suggested entry point is at
$145.50, slightly above the last close to confirm upward momentum. Set a stop loss at
$140.00 to manage risk. Target 1 is
$150.00, aligning with psychological resistance, and Target 2 is
$155.00, near the 60D high.
This plan leverages current market conditions and technical indicators to capitalize on potential upward movement.
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