Nucor Corporation (NUE) Offering Possible 66.67% Return Over the Next 7 Calendar Days

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Nucor Corporation’s most recent trend suggests a bearish bias. One trading opportunity on Nucor Corporation is a Bear Call Spread using a strike $112.00 short call and a strike $117.00 long call offers a potential 66.67% return on risk over the next 7 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $112.00 by expiration. The full premium credit of $2.00 would be kept by the premium seller. The risk of $3.00 would be incurred if the stock rose above the $117.00 long call strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for Nucor Corporation is bullish and the probability of a rise in share price is higher if the stock starts trending.

The 20-day moving average is moving up which suggests that the medium-term momentum for Nucor Corporation is bullish.

The RSI indicator is at 61.72 level which suggests that the stock is neither overbought nor oversold at this time.

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