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After Yesterday's Rally of 1.78% Shares Could Potentially Pullback

By Amy Schwartz

Nucor Corp (NYSE:NUE) traded in a range yesterday that spanned from a low of $60.90 to a high of $62.26. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $60.94 on volume of 1.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Nucor Corp share prices have been bracketed by a low of $44.81 and a high of $68.00 and are now at $61.74, 38% above that low price. 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 is monitoring the recent change of momentum in Nucor Corp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Nucor Corp in search of a potential trend change.

Keywords: rebounders nucor corp

Ticker(s): NUE