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Steel Industry Stocks Technical Analysis - NUEArchive
- 10/23/2026 -
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Nucor Corp. (NUE) Technical Analysis
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| Summary:
| | Weekly : | | Daily : 
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| | It was a third positive week after 4 consecutive negative weeks for the Nucor Corp. (NUE). During the week, the NUE climbed 1.82 points, or 0.71%, and closed at 258.11 on Friday, October 23, 2026. Weekly volume was -18% below 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 192.21 and resistance is at 315.22. 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 downtrend had started on August 5, 2026 at 280.11 and reached 229.20 on October 1, 2026. NUE lost 50.91 points, or 18.18%, in 8 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (224.18) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See NUE weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since August 21, 2026. This is an indication that the medium-term trend is down. 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 1, 2026 at 229.20 and reached 266.00 on October 21, 2026. NUE gained -36.80 points, or -16.06%, in 20 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See NUE daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish 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 link to access Lane's Stochastic 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. 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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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Materials |
4 |
| Industry |
Steel |
79 |
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| Daily Trend |
| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| High |
266.00 |
| High Date |
10/21/2026 |
| Low |
250.74 |
| Low Date |
10/22/2026 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
229.20 |
| Low Date |
10/01/2026 |
| High |
266.00 |
| High Date |
10/21/2026 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Falling Wedge |
| Status |
Broken Resistance |
| Resistance |
249.06 |
| Support |
224.18 |
| High |
280.11 |
| High Date |
08/05/2026 |
| Low |
229.20 |
| Low Date |
10/01/2026 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Broadening Ascending Wedge |
| Status |
Valid |
| Resistance |
315.22 |
| Support |
192.21 |
| Low |
97.60 |
| Low Date |
04/07/2025 |
| High |
280.11 |
| High Date |
08/05/2026 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
27.53 |
| Low Date |
03/18/2020 |
| High |
280.11 |
| High Date |
08/05/2026 |
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