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SmarTrend Watching for Potential Rebound in Shares of Nucor Corp After 1.33% Loss

By Amy Schwartz

Nucor Corp (NYSE:NUE) traded in a range yesterday that spanned from a low of $54.60 to a high of $56.19. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $54.63 on volume of 793,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is tracking the current trend status for Nucor Corp and will alert subscribers who have NUE in their portfolio or watchlist when shares have changed trend direction.

Over the past year, Nucor Corp has traded in a range of $44.81 to $68.00 and is now at $54.76, 22% above that low. 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