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- 4/5/2024 -
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Nucor Corp. (NUE) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a fourth consecutive positive week for the Nucor Corp. (NUE). During the week, the NUE gained 3.07 points, or 1.55%, and closed at 200.97 on Friday, April 5, 2024. Weekly volume was -35% below average.
NUE is a member of Materials Sector. Materials is the most overbought sector. 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 July 5, 2022 at 100.13 and reached 202.89 on April 3, 2024. NUE gained -102.76 points, or -102.63%, in 91 weeks. Price is near the trend high.
 Medium-term trend: [See NUE medium-term trend chart]
A medium-term uptrend had started on October 23, 2023 at 140.07 and reached 202.89 on April 3, 2024. NUE gained -62.82 points, or -44.85%, in 23 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend resistance line (202.85). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See NUE weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Weekly Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 above its signal line since December 1, 2023. This is an indication that the medium-term trend is up. 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 March 14, 2024 at 180.53 and reached 202.89 on April 3, 2024. NUE gained -22.36 points, or -12.39%, in 20 days. The price is now at the 8.59% retracement level.
 Daily Technical Indicators: [See NUE daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bearish divergence.
The daily MACD line is above its signal line since March 19, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
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