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

By Nick Russo

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.

Nucor Corp share prices have moved between a 52-week high of $68.00 and a 52-week low of $44.81 and are now trading 25% above that low price at $55.93 per share. 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