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Look for Shares of Nucor Corp to Potentially Pullback after Yesterday's 2.60% Rise

By Amy Schwartz

Nucor Corp (NYSE:NUE) traded in a range yesterday that spanned from a low of $62.96 to a high of $64.71. Yesterday, the shares gained 2.6%, which took the trading range above the 3-day high of $64.30 on volume of 1.5 million 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 44% above that low price at $64.57 per share. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.7%.

SmarTrend is tracking the current trend status for Nucor Corp and will alert subscribers who have NUE in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders nucor corp

Ticker(s): NUE