For the last six months, Nucor (NUE) shares have been trending sideways between $88.00 and $128.00, consolidating gains made in a previous advance up from near $45.00. Last month, Nucor successfully retested the bottom of this zone and since then, it has been on the rebound. Last week, the shares successfully tested support at their 50-day moving average near $111.75 as support then rallied up off of it to a new all-time high, blasting through the top of its previous range on Friday on increased volume, a sign of renewed interest.
Menu