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Steel

Infrastructure Bill helping SteelTechnical Analysis We are breaking out to a 52-week high, with heavy volume (100%+ stronger volume intraday vs its 10-day average volume) First measured move target is at $32, which is coincidental with a Fibonnaci 61.8% level. OBV is supportive of the overall uptrend. ~~~ Take a look at USCR (US Concrete) which is rallying in my opinion based on the same infrastructure scenario. If you would like a chart analysis on this symbol, please let me know.
NYSE:X
by dorfmanmaster
MT steel sector Shares of several steel companies are trading higher, potentially amid US infrastructure optimism and outlook for an economic recovery, both of which could lift demand. Additionally, ArcelorMittal (MT) reportedly raised flat steel price offers. Steel Stocks Higher Friday: US Steel Up 8%, Nucor Up 7%, Arcelor Mittal Up 6%, Steel Dynamics Up 5%(Benzinga) While I don't buy the news... it can confirm my observations. 03-26-2021 Buying with a small position (30%) due to market conditions. MT is in the metals and mining steel sector. Also, bought SLX ETF. All key stocks in this EFT have positive YTD return. YOY Earnings 67.4% Qtly: 57.89% Others in sector up For educational purposes only... not trading advice.
NYSE:MTLong
by Tea-Trades
Steel long-term fate1 candle = 1 month. Which shows us a 10 year down-trend which is about to be tested. If we break R1, R2 is the next potential move. Since early november we haven't broken the 10sma, which can be used to exit half your position. Fundamentally speaking, it appears the market is expecting the stimulus bill which might come in the next months, and will most likely help the Infrastructure play. RSI is 62 on a monthly basis, on a daily basis it is 80. I would keep it on a watchlist until we break this downtrend, if you haven't been able to participate so far. Check out my last analysis on Steel since late october down below.
AMEX:SLX
by dorfmanmaster
TATASTEEL Breakout TATASTEEL multiyear breakout, strong resistance near 750 level, need to be kept in focus by looking at the price action and the volume levels. levels as high as 910 developed in TATASTEEL. NIFTY METAL performing very good. STEEL companies all over the world performing well. Go long on TATASTEEL with stop loss at 700 level, highly unlikely to be reached. MACD crossover visible on daily chart. Since huge buying was seen today, there might be some consolidation or selling tomorrow so keep that in mind. RSI is in overbought zone so keep that in mind as well. But it seems to hold the overbought zone since the past few days. Both derivatives and equity can be bought, i would recommend buying 750CE or cash equity as per risk apetite. if 750CE or futures are being bought, kindly have a serious look at the price action tomorrow as atleast some retracement of today's maribozu is possible. Kindly let me know if any clarifications are requires, you may message me or comment on this post. Great profit opportunity visible in the steel sector in the near future, global ques also positive. Note Post only for education purposes.
NSE:TATASTEELLong
by SaintLazarus
+50% Bullish Move coming on XGood morning traders, today we want to show you our bullish projection on X, since we consider that it has excellent potential for the medium-long term. 🔸To achieve this analysis, we draw the corrective pattern on the monthly chart that has been taking shape since the great fall of 2008, it is a kind of wedge. 🔸The main characteristic of the wedges is that they are composed of 5 ABCDE waves, and in the current figure we see that 4 of the 5 have been formed. 🔸Wave D generated a double bottom in the previous support zone, and since then the price has been rising aggressively, which shows a lot of buying strength in this stock. 🔸We consider that wave E is happening right now, and the target zone corresponds to the Descending Trendline, which is in confluence with a supply zone. 🔸This upward movement corresponds to a rise of approximately 50% in the price.
NYSE:XLong
by ThinkingAntsOk
3
Copper Outlook /long-term Technical Analysis We have broken the long-term resistance trend that had been in place for almost 10 years. RSI is very overbought, but this market has proven overbought can stay overbought for a long period. In the chart there is 3 potential targets for Copper in the long-term picture. There are several place to take profits and/or add on pullbacks. (These are the orange segment lines) Fundamental Analysis Industrial metals have been rallying strong; and are likely to continue with expected infrastructure investment for 2021 and further. Copper is also used in Semiconductors, which is the basis of all technology hardware. Steel is behaving in a very similar fashion, adding to the idea of industrial metals outperforming precious metals.
AMEX:COPXLong
by dorfmanmaster
1
Undervalued Steel BreakoutTechnical Analysis We have a breakout on strong intraday volume (200% above 10-day average). RSI @67 - still not overbought. OBV has been supportive. Because we are in a longer down-trend, we will see multiple resistance; which will very helpful to set your limits. Risk reward ratio is great, using $32.3 as stop-limit loss, and $39 as a sell-exit. Be careful of a fake break-out, as this is only the 1st day. Fundamental Analysis One of the infrastructure plays with expected fiscal stimulus, could be steel. As price is king, it tells a more accurate story of what market makers think of the upcoming events.
AMEX:SLX
by dorfmanmaster
"X Gon' Give it to Ya"THE FUN: Don't get it twisted This commodity rise is mine, fellow investor It's not a QQQ game Forget what you've heard about lack of infrastructure spending It's what you hearin'....the market knows X gon' give it to ya (what?) Forget waiting for you to get it on your own, X gon' deliver to ya (uh) Knock knock, open up the door fibonacci levels, it's real With the non-stop, pop-pop of stainless steel Go hard, getting busy wit it Bullish on X. THE ACTUAL DD PICK (ETF) is breaking out.
NYSE:XLong
by TMoneyBidness
3