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IBD Rating Upgrades: Nucor Shows Improved Technical Strength

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Nucor ( NUE ) had its Relative Strength ( RS ) Rating upgraded from 65 to 73 Wednesday -- a welcome improvement, but still shy of the 80 or higher score you prefer to see.

[ibd-display-video id=2385970 width=50 float=left autostart=true] IBD's unique RS Rating measures market leadership by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.

History reveals that the top-performing stocks often have an RS Rating north of 80 in the early stages of their moves. See if Nucor can continue to show renewed price strength and hit that benchmark.

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Nucor is trading within a buy zone after climbing above a 66.10 buy point in a consolidation . Once a stock moves 5% or higher beyond the original entry, it's considered out of a proper buying area.

Nucor reported -20% earnings growth last quarter. Revenue increased 21%. Look for the next report on or around Jan. 31.

The company holds the No. 4 rank among its peers in the Steel-Producers industry group. Steel Dynamics ( STLD ) is the top-ranked stock within the group.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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