The Nucor long-term monthly chart gives the impression that it may yet move to new all-time highs in an Elliott Wave fifth wave up. Alternatively, if you don't want to assume that and would like a more conservative target, the daily chart does show that Nucor could get to $61 or so, based on the relatively conservative idea that price already put in an A wave, corrected in a B wave, and then C up remains (so C=A at about 61). There are certainly wave counts that would take it higher than that. Note also that Nucor is moving in on its 200-day moving average. If Nucor gets above its 200-day moving average, it will be deemed "above the line" from a trading chart perspective and assumed to be uptrending on that basis alone (at least if the 200-day MA itself moves into an uptrending attitude, which does look possible to happen relatively soon. So, although I don't want to issue any guarantees, an investor might be interested in Nucor, back-stopped by my hypothetical uptrending channel line and the price level of $36.95. If it cannot hold $36.95, then it would be reasonable to sell out and re-assess (in order to protect investment capital).
So here are the Nucor charts, and then we'll look at the US Steel charts:


The US Steel (X) chart is more concerning, because of the depth of the drop and the indicators as mentioned, such as OBV, moved to a weaker position. Yet there do remain Elliott Wave counts in which it could have either a substantial rally, or - less likely but still possible - even get to new highs. Before we get all excited about which of these scenarios it might provide, let's approach it similarly to the Nucor chart - a long position back-stopped at just under $27.49, and in this case let's see if it can even do a C=A type movement up to ~$50. Let alone, whether X could get to its 200-day moving average which is currently about 93 ... but by the time X might get to $50, then its 200-day MA might be closer by:


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