NUE Enters Squeeze Mode at $165.48
NeutralNucor Corp (NUE) closed down 0.53% at $165.48 on December 29.
Technical indicators paint a mixed picture:
Moving Averages
Price trades above the 9-day EMA ($163.75) with a bullish stack. The 21-day EMA at $160.96 provides support.
Momentum
RSI at 65.0 is in neutral territory. MACD is bearish (3.40 vs signal 3.65).
Volatility
Stock has been in a TTM Squeeze for 6 days, indicating compressed volatility and potential for a significant move.
While the trend remains bullish, weakening MACD warrants caution for new entries at current levels.
Key levels to watch: Support at $157.00, Resistance at $167.92.