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Archive
- 1/10/2025 -
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Nucor Corp. (NUE) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week for the Nucor Corp. (NUE). During the week, the NUE gained 2.70 points, or 2.34%, and closed at 118.20 on Friday, January 10, 2025. It was the best weekly gain since November 22, 2024. Weekly volume was 71% above average.
NUE is a member of Materials Sector. Materials is the most oversold sector. NUE is a member of Steel Industry. Steel is the seventh most oversold industry. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See NUE long-term trend chart]
A long-term uptrend had started on March 18, 2020 at 27.53 and reached 203.00 on April 9, 2024. NUE gained -175.47 points, or -637.38%, in 211 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (179.64) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. NUE may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a long-term trend.
 Medium-term trend: [See NUE medium-term trend chart]
A medium-term downtrend had started on November 6, 2024 at 170.50 and reached 112.30 on January 3, 2025. NUE lost 58.20 points, or 34.13%, in 8 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 108.11 and resistance is at 141.79. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See NUE weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is below its signal line since December 13, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
 Short-term trend: [See NUE short-term trend chart]
A short-term uptrend had started on January 3, 2025 at 112.30 and reached 123.50 on January 7, 2025. NUE gained -11.20 points, or -9.97%, in 4 days. The price is now at the 47.32% retracement level.
 Daily Technical Indicators: [See NUE daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
 Candlestick pattern: [See NUE candlestick chart pattern]
On Friday the chart has formed a Bullish Meeting Lines Candlestick pattern. This pattern appears during a decline, and it is a sign that a potential bullish reversal is in play. The reliability of the Bullish Meeting Lines Candlestick pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bullish Meeting Lines Candlestick pattern during the last week.
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