Nucor's Stock Down 22% in 6 Months: Should You Buy the Dip?

Nucor Corporation’s (NUE) shares have lost 22.4% in the past six months, underperforming the Zacks Steel Producers industry’s decline of 17.2%. The bearishness is partly due to the choppiness in the steel space as reflected by the significant retreat in U.S. steel prices driven by a combination of demand slowdown and oversupply, which have led to a downward revision in NUE’s earnings estimates.Technical indicators show that NUE has been trading below the 200-day simple moving average (SMA) since May 22, 202 ...