Nucor Is Near its 50 Day Moving Average
Published on Friday, 08 March 2013 08:24 Written by TradersHuddle Wire
New York, March 8th (TradersHuddle.com) - Nucor Corporation (NYSE:NUE) closed the trading day at $46.78, near its 50 day moving average that is set at $45.87. Nucor's price action is just above this important support level, providing a trading opportunity.
Nucor Corporation (NYSE:NUE) manufactures carbon and alloy steel, steel joists, steel deck, cold finished steel, steel grinding balls, steel bearing products, and metal building systems. The company is based in Charlotte, NC
The peaks and troughs algorithm shows calculated support at $43.41 and calculated resistance at $45.61. These levels should also be evaluated when planning trades, as they provide an insight into the latest price action.
Traders wanting to establish a position on Nucor should look for evidence of buying near the 50 day moving average, and open this position as close as possible to this important level. Also, they need to consider the latest range defined by the peaks and troughs algorithm for insights on other key levels that might impact an upside or downside move.
- Microsoft announces quarterly dividend increase and share repurchase program
- Shell Brazil chooses Windows Phone to lower costs and increase employee productivity
- Banks put customers first with Microsoft Dynamics CRM
- Bing.com and FOX News team up to bring real-time online polling to nightly news; Bing Pulse featured on "Special Report with Bret Baier"
- Industry partners showcase new financial services apps for Windows 8 and Windows Phone 8
- Microsoft launches worldwide Office 365 donation program for nonprofits
- InvestorsObserver releases comments on Microsoft, Toyota, Kroger, Sears Holdings, and Men's Wearhouse
- Microsoft launches Xbox Music across iOS and Android, adds free streaming on the Web
- NI Technology Research Updates Outlooks for Ciena, Finisar, Microsoft and Nokia
- Microsoft to acquire Nokia's Devices & Services business, license Nokia's patents and mapping services
Related Partner Headlines
Recent Trading Ideas
Latest Partner Headlines