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After Yesterday's Rally of 1.63% Shares Could Potentially Pullback

By James Quinn

Nucor Corp (NYSE:NUE) traded in a range yesterday that spanned from a low of $67.25 to a high of $69.12. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $68.27 on volume of 930,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Nucor Corp share prices have moved between a 52-week high of $70.48 and a 52-week low of $44.81 and are now trading 54% above that low price at $68.82 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.7% while the 200-day MA has risen 0.3%.

SmarTrend recommended that subscribers consider buying shares of Nucor Corp on February 15th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $65.29. Since that recommendation, shares of Nucor Corp have risen 4.0%. We continue to monitor NUE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders nucor corp

Ticker(s): NUE