Back on October 7 we updated our view of the steelmaker - "Traders who bought Nucor ( NUE) last month should continue to hold with the same $89 stop. Aggressive traders could add to longs above $102. $143 and $180 are our price targets for now. Goldman Sachs may have a technical analyst somewhere in the firm but I doubt they will weigh in on NUE."
Let's check and see how that trade is doing. 
In this daily bar chart of NUE, below, we can see that prices have firmed since early October. NUE is back above the 50-day moving average line. Trading volume has been active since March and that is a positive for an old chart watcher like myself.
The On-Balance-Volume (OBV) line has been strong and touched a new high recently. The Moving Average Convergence Divergence (MACD) oscillator is bullish.
In this weekly Japanese candlestick chart of NUE, below, we see things moving in the right direction. Prices are in a longer-term uptrend above the rising 40-week moving average line. The OBV line is strong and supports the price gains. The MACD oscillator is narrowing towards a new outright buy signal.
In this daily Point and Figure chart of NUE, below, we can see an upside price target in the $144 area.
In this weekly Point and Figure chart of NUE, below, we can see a $167 price target.
Bottom line strategy: Traders who went long NUE on our recommendations should continue to hold. Raise stops to $101 from $89. The $144 area and then the $167 area are our price targets.
(Nucor is a holding in the Action Alerts PLUS member club . Want to be alerted before AAP buys or sells NUE? Learn more now. )
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