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Nucor Corp Set to Possibly Rebound After Yesterday's Selloff of 1.09%

By Amy Schwartz

Nucor Corp (NYSE:NUE) traded in a range yesterday that spanned from a low of $55.66 to a high of $56.64. Yesterday, the shares fell 1.1%, which took the trading range below the 3-day low of $56.30 on volume of 633,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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.

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 $55.93, 25% above that low price. The 200-day and 50-day moving averages have moved 0.30% higher and 1.69% higher over the past week, respectively.

Keywords: rebounders nucor corp

Ticker(s): NUE