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Steel Industry Stocks Technical Analysis - NUEArchive
- 10/30/2026 -
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Nucor Corp. (NUE) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a fourth positive week after 4 consecutive negative weeks for the Nucor Corp. (NUE). During the week, the NUE gained 15.76 points, or 6.11%, and closed at 273.87 on Friday, October 30, 2026. It was the best weekly gain since May 29, 2026. Weekly volume was 17% above average.
 Long-term trend: [See NUE long-term trend chart]
A long-term uptrend had started on April 7, 2025 at 97.60 and reached 280.11 on August 5, 2026. NUE gained -182.51 points, or -187.00%, in 69 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 239.16 and resistance is at 317.95. A Broadening Ascending 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
 Medium-term trend: [See NUE medium-term trend chart]
A medium-term uptrend had started on October 1, 2026 at 229.20 and reached 275.90 on October 27, 2026. NUE gained -46.70 points, or -20.38%, in 3 weeks. Price is near the trend high.
 Weekly Technical Indicators: [See NUE weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. 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 link to access Williams' Percentage Range help.
The weekly MACD line is below its signal line since August 21, 2026. The distance between MACD and the signal line is low and getting smaller. 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 October 22, 2026 at 250.74 and reached 275.90 on October 27, 2026. NUE gained -25.16 points, or -10.03%, in 5 days. The price is now at the 8.07% retracement level.
 Daily Technical Indicators: [See NUE daily technical indicators chart]
Daily 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 daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range. Daily Relative Strength Index and MACD have bearish divergence. Use the following links to access the Relative Strength Index and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following links to access Lane's Stochastic and Relative Strength Index help.
The daily MACD line is above its signal line since October 5, 2026. This is an indication that the short-term trend is up.
During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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