Nucor - Stock Of The Day

Summary

• 100% technical buy signals.
• 12 new highs and up 18.39% in the last month.
• 133.40% gain in the last year.

The Barchart Chart of the Day belongs to the steel producer

Nucor (NUE).   I found the stock by using Barchart's powerful screening tools to find the stocks with the highest Weighted Alpha and technical buy signals. After I sorted for the most frequent number of new highs in the last month, I used the Flipchart feature to review the charts for consistent prices appreciation. Since the Trend Spotter signaled a buy on 2/16 the stock gained 27.00%.

  Nucor Corporation manufactures and sells steel and steel products. It operates through three segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products. It also engages in the steel trading and rebar distribution businesses. This segment sells its products to steel service centers, fabricators, and manufacturers in the United States, Canada, and Mexico. The Steel Products segment offers hollow structural section steel tubing products, electrical conduits, steel joists and joist girders, steel decks, fabricated concrete reinforcing steel products, cold finished steel products, steel fasteners, metal building systems, steel grating and expanded metal products, and wire and wire mesh products primarily for use in nonresidential construction applications. This segment also engages in the piling distribution business. The Raw Materials segment produces direct reduced iron (DRI); brokers ferrous and nonferrous metals, pig iron, hot briquetted iron, and DRI; supplies ferro-alloys; and processes ferrous and nonferrous scrap metal, as well as engages in the natural gas drilling operations. This segment sells its ferrous scrap to electric arc furnace steel mills and foundries for manufacturing process; and nonferrous scrap metal to aluminum can producers, secondary aluminum smelters, steel mills and other processors, and consumers of various nonferrous metals. The company offers its products through its in-house sales forces; and internal distribution and trading companies. The company was incorporated in 1958 and is headquartered in Charlotte, North Carolina. 

Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.

Barchart technical indicators:

• 100% technical buy signals
• 124.73+ Weighted Alpha
• 133.40% gain in the last year
• Trend Spotter buy signal
• Above its above its 20, 50 and 100 day moving averages
• 12 new highs and up 18.39% in the last month
• Relative Strength Index 69.97%
• Technical support level at 70.25
• Recently traded at 72.82 with a 50 day moving average of 59.76

Fundamental factors:

• Market Cap $20.71 billion
• P/E 20.33
• Dividend yield 2.40%
• Revenue expected to grow 37.60% this year and be down 12.70% next year
• Earnings estimated to increase 155.60% this year decrease by 51.80% next year but compound at an annual rate of 7.65% for the next 5 years
• Wall Street analysts issued 4 strong buy, 4 buy and 6 hold recommendations on the stock
• The individual investors following the stock on Motley Fool voted 1924 to 86 that the stock will beat the market
• 35,340 investors are monitoring the stock on Seeking Alpha

The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stock are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.