Nucor Corporation (NUE) stock declined in its latest intraday trading as bearish signals appeared on the relative strength indicators. However, the stock is attempting to find a higher bottom that could serve as a base to regain positive momentum and support a potential recovery. It is currently resting on support at its previous 50-day SMA, within the dominance of a short-term bullish trend and trading along an ascending line that supports this direction.

Therefore, we expect the stock to rise in its upcoming trading sessions as long as the support level of $138.10 holds, targeting the key resistance level of $155.80.

Todays stock forecast: Bullish.