Replies to post #156 on Nucor Corporation (NUE)

[warfaretrader]

Hello Raw! Hope you are well. Sorry for the delay, been on vacation. NUE isn't looking so well right now imo. Broke below both the 50&200ma on the daily with a hard drawdown on the 50ma most likely breaking through the 200 within the next couple weeks. The weekly isn't much better with the pps sitting below the 40 week MA. The pps marked 4 weeks ago at 158.35 and yesterday PA took out the mid March mark of 138.56 so your next stop is the 128 area. I wouldn't be surprised to see it pop up against the 200 or even the 50ma if we get a strong showing in the overall markets next week. GL