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

By James Quinn

Nucor Corp (NYSE:NUE) traded in a range yesterday that spanned from a low of $62.56 to a high of $63.64. Yesterday, the shares fell 1.1%, which took the trading range below the 3-day low of $63.00 on volume of 1.1 million 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.

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 41% above that low price at $63.15 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%.

Keywords: rebounders nucor corp

Ticker(s): NUE