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SmarTrend Watching for Potential Rebound in Shares of Nucor Corp After 1.79% Loss

By Shiri Gupta

Nucor Corp (NYSE:NUE) traded in a range yesterday that spanned from a low of $66.27 to a high of $68.12. Yesterday, the shares fell 1.8%, which took the trading range below the 3-day low of $66.62 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 recommended that subscribers consider buying shares of Nucor Corp on February 15th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $65.29. Since that recommendation, shares of Nucor Corp have risen 3.4%. We continue to monitor NUE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

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 49% above that low price at $66.55 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%.

Keywords: rebounders nucor corp

Ticker(s): NUE