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Nucor Rises 2.64% on Heavy Volume: Watch For Potential Pullback

By Shiri Gupta

Nucor (NYSE:NUE) traded in a range yesterday that spanned from a low of $58.03 to a high of $60.42. Yesterday, the shares gained 2.6%, which took the trading range above the 3-day high of $58.32 on volume of 2.3 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 share prices have moved between a 52-week high of $68.00 and a 52-week low of $33.90 and are now trading 75% above that low price at $59.38 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 monitoring the recent change of momentum in Nucor. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Nucor in search of a potential trend change.

Keywords: rebounders Nucor

Ticker(s): NUE