My Trade Plan:
- Entry Price : Here against the moving averages
- Target Price : $120 or higher past previous pivot highs
- Stop Price : $107 below recent lows and above the previous major pivot.
My Trade:
- NUE Jan 7 2022 114 Call near $3
NUE Affirm Holdings Inc. (NUE) - Bullseye Pick of the Week
Original Alert went out on December 27, 2021.
From a technical point of view, the TTM Squeeze has been setting up for almost a week now, with the price trending slowly higher against rising moving averages.
I would like to see the bulls continue to hold control of the stock against the 100 and 200 hourly moving average while using the 13/30 hourly moving averages as momentum to the upside.
NUE is an industry-leading steel producer and I love the chart right now. This sector has had so much bad news thrown at it over the last few months and yet NUE is flirting with a breakout higher.
