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SmarTrend Watching for Potential Pullback in Shares of Nucor Corp After 1.36% Gain

By Amy Schwartz

Nucor Corp (NYSE:NUE) traded in a range yesterday that spanned from a low of $54.02 to a high of $54.51. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $53.81 on volume of 701,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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 $66.03 and a 52-week low of $46.10 and are now trading 18% above that low price at $54.47 per share. The 200-day and 50-day moving averages have moved 0.47% lower and 0.71% lower over the past week, respectively.

Keywords: rebounders nucor corp

Ticker(s): NUE