What to do about Nucor - Johns Wu

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What to do about Nucor
May 27, 2008 12:02 AM UTC

Johns Wu

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Via The Bull Trader - Stock Charts & Technical Analysis Blog:

Nucor Corporation and its subsidiaries engage in the manufacture and sale of steel and steel products in North America. NUE is a tough stock to analyze in my opinion. It is in one of the leading industries in a horrible market, i.e. steel, yet its broken its longer term uptrend. The company recently announced another common stock offering for $74/share which may have contributed to recent action and high volume trading. Trading purely on technicals, I would say stay away. Then again this could be a decent pullback in a leading stock. Nothing is absolute, so I think if NUE goes 5-10% lower, I think I would dip my toe in the water and see what shakes out. What are your thoughts on NUE?

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