Momentum in favor of NuCor Corp.

by DAN NuCor Corp. ($NUE) is resolving it’s latest consolidation to the updside. NuCor Corp. is up 2.09% at $48.18 on a volume of 1,008,470 shares today.

Nucor (NUE) is breaking out above resistance at $48. During the past year, the stock has tested $48 twice and has failed to punch through. Technical traders will want to watch this stock. If the closes during the next few days are above $48, then the stock may be moving to a new trading range.

52 Week Range $36.86-$48.60 Market Cap 15,374,809,200 Average Volume 1,842,900 Dividend Yield 3.11% Institutional Ownership 80.20% Insider Ownership: 0.80% Percentage of Float Short 3.00% Beta 1.13

NuCor Corp. is above the 50 day moving average and above the 200 day moving average. These are bullish, bullish indicators respectively.

NuCor Corp. Nucor Corp., and its affiliates are manufacturer of steel and steel products. It also produces direct reduced iron for use in the Company’s steel mills.

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