Some of the Steel sector has been moving up aggressively. But poking out to new 52 week and All Time Highs today was NuCor (NUE).
This chart has great technicals. The RSI has stayed in bull mode above 40 for 2 years. The MACD has gently pulled back to the zero line and completed its reset and is off to the races with a big weekly histogram bar. The SCTR has not quite moved into Top Quartile yet, but it looks to be headed up there. There are a few in the industry group that look worthy of attention. To find them, click on sector summary on the home page. Go to the Materials sector, click on that. Choose Steel as the next industry group and then select the one month setting up top on the drop down menu.
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Good trading,
Greg Schnell, CMT
