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Watch for Nucor Corp to Potentially Pullback After Gaining 2.60% Yesterday

By Amy Schwartz

Nucor Corp (NYSE:NUE) traded in a range yesterday that spanned from a low of $62.96 to a high of $64.71. Yesterday, the shares gained 2.6%, which took the trading range above the 3-day high of $64.30 on volume of 1.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Nucor Corp has traded in a range of $44.81 to $70.48 and is now at $64.57, 44% above that low. The 200-day and 50-day moving averages have moved 0.30% higher and 1.69% higher over the past week, respectively.

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.

Keywords: rebounders nucor corp

Ticker(s): NUE