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Archive
- 10/16/2026 -
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Nucor Corp. (NUE) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a second positive week after 4 consecutive negative weeks for the Nucor Corp. (NUE). During the week, the NUE gained 5.96 points, or 2.38%, and closed at 256.29 on Friday, October 16, 2026. Weekly volume was -35% 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 191.00 and resistance is at 312.50. 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 (225.75) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. NUE may retest the broken resistance line. It is considered to be a support line now. 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 263.87 on October 16, 2026. NUE gained -34.67 points, or -15.13%, in 15 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 Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. 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 links to access Lane's Stochastic and Williams' Percentage Range 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 price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. 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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