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Nucor Corp Falls 3.80% on Heavy Volume: Watch For Potential Rebound

By Amy Schwartz

Nucor Corp (NYSE:NUE) traded in a range yesterday that spanned from a low of $52.74 to a high of $53.96. Yesterday, the shares fell 3.8%, which took the trading range below the 3-day low of $53.88 on volume of 1.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Nucor Corp have traded between a low of $49.79 and a high of $68.84 and are now at $52.89, which is 6% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 0.7%.

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