USX1 trade ideas
See The Target: $X Still Has More UpsideUnited States Steel Corporation (NYSE:X) jumped on Monday and is setting up for a great day on Tuesday. After announcing a $0.05 dividend, the stock is in a perfect spot to continue its run higher. In addition, Donald Trump will be giving a speech Tuesday night where he will likely talk up buying American produced steal. When looking at the stock chart, all signals point to continued upside through $40 to a high between $45 and $47. This was the high from 2014 and will be significant resistance. Only at this point should investors consider selling the stock.
United States Steel Corporation likely to trader higher
US Steel up for resistanceUS Steel is in a nice uptrend since setting the bottom in early 2016. The current uptrend is likely to remain. Recently a long term declining resistance line has been broken (the red dotted line) which had been tested late 2016. After a short pullback the stock price continues its uptrend. Both the MACD and RSI show signals for further advancing of the stock price, both curling up after setting a higher bottom. First potential resistance is the last major top, set in September 2014, around 46. This level is also the 61.8% retracement level formed from the major top around 70 to the bottom in 2016.
I have no position in X, and would be hasitant to enter a long position below 46. After breaking the resistance at 46 (significantly) I would consider a long position.
X Short play at 40Based on the history of the stock 40 seems a good place to short X based on the MACD and price action
US Steel great chartX is about to break thru next resistance with mid-term upside into 46.00. Not bad
long Xwent long X on good CLF earnings release at 35 with a stop of 33. Will be looking to add on break into new 52WH. I remain bullish on the U.S. steel sector
X Long to $35.60 after $33.90 trigger with a $33.05 StopThe overall tend is Bullish and not Lateral. There's a One White Soldier on the Daily Charts. The Hourly is showing a nice Flag pattern with support at the 100 MA and a potential bullish breakout at the 200 MA.
is the X be able to make it or break it?the united states steel corp (X), may be in a down channel, but I have a long bias, if the stock reaches YP or 29.60 area, and bounces from there to break the channel to the upside.
the possible target would then be 52.50.
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