Nucor price tries to vent off overbought saturation - Forecast today - 10-04-2024

Nucor Corporation’s stock (NUE) fell in the intraday levels while gathering positive momentum to rise anew, as it also vented off overbought saturation in the RSI with negative signals out of them, amid the dominance of the main upward trend in the medium and short terms, with positive pressure from the 50-day SMA.

Therefore we expect the stock to return higher, targeting the resistance of $218.50, provided it settles above $195.00. 

Trend forecast: Likely Bullish