Don't Ignore This Chart!

NuCor (NUE) Makes New All Time Highs

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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. 

If you liked this article, feel free to forward it to investing friends and family. The chart is printable. It should also be clickable so that you can go look at the settings.

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Good trading,

Greg Schnell, CMT

Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA). Learn More
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