Horacio Marquez Says Nucor (NUE) Poised for Big Gains
Sep 8th, 2008 | By Horacio Marquez | Category: Featured, Financial NewsSteel-sector stocks have been taking investors on a roller-coaster ride lately. At one point this year, they had climbed a whopping 36%, but they are now down 16% for the year.
US steelmaker Nucor (NYSE:NUE) took a thumping along with the rest of the sector. Shares are down 18% for the year, dropping 42% from their peak for 2008.
However, Money Map Report editor Horacio Marquez reckons Nucor’s “terrific fundamentals” mean its shares are poised for big gains. He says, “all the technical indicators … point to a massively oversold condition in Nucor’s shares.”