Nucor Technical Analysis (NYSE:NUE)
Technical analysis relies on the belief that future price movements of a stock can be forecasted through the study of historical market data and technical charts. The NUE stock chart pattern can give those who understand technical analysis an indication of which way NUE stock is headed, but cannot predict with 100% certainty as to what can happen to the Nucor stock price.
View technical indicators like moving averages - SMA and EMA, and bollinger bands for Nucor. Technical analysis essentially tries to study the supply and demand for a particular security and determine the stock trends for that security. Chartists use stock price movements for this form of Nucor stock analysis.
Nucor Moving Average
Moving averages help predict the price direction of NUE stock based on certain triggers, but with a lag, and form building blocks for other technical indicators like the MACD and bollinger bands. The 20 day moving average of $65.26 is above the last closing price of $61.11 and the 50 day moving average of $65.06 is above the last closing price of $61.11. The 10 and 20 day periods can predict short term moving average trends.
Nucor Bollinger Bands
Bollinger Bands were developed by the famous technical trader John Bollinger and are a measure of the volatility of a stock like the NUE stock. The stock price is trading between the average and the lower band in the context of Nucor bollinger bands.
Nucor Moving Average Convergence Divergence or MACD
Two important concepts with respect to moving average convergence divergence or MACD are: crossovers and divergence. When the MACD rises above the signal line, it typically indicates a bullish trend and most likely the stock prices will go up. The Nucor MACD indicator can be used to identify bullish and bearish trends for the stock.
Nucor Relative Strength Index
This technical indicator compares the relative strength or weakness of a stock. It measures the magnitude of rise or fall in stock price movements . If the RSI of NUE stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position.