0LJ9 trade ideas
Grinding upwards into Jan 2020After looking into the undervaluation of this stock we are looking to grind up here through the month of December. Looking at the first leg of the 5 wave pattern we get an example of what to expect in the coming days based off the pattern that is forming. As everyone knows it is impossible to predict the future only to react to the present. This is my best guess expectation for December and should only be used as a guide not a prediction.
OPENING: X APRIL 17TH 18 SHORT CALL... for a .50/contract credit.
Notes: Another trade I've been working way too long (See Post Below), was not aggressive enough on the call side as it bottomed, and/or wasn't very mechanical on rolls.
Selling calls against as a delta cutter, scratch at 6.50, delta/theta 57.7/.86. Will look to flatten delta further in subsequent cycles.
US Steel Corp Equities Offshore | X US Steel | The name is developing a bottom, with a technical cup and handle formation being the most visible pattern. The price remains below the downward trend line going back to 01 March 2019 when the share made a high of $47.64 however is looking to break above the secondary trend line going back to 24 July. It should also be noted that the 8/21 as well as 50-day EMA is starting to turn higher. Bottom line: this share is developing a bullish bias, is looking to turn and may be considered as a medium term position.
X - Revisited (again)I continue to like this pattern more and more each time I review the chart. Everything tells me this wants to make it past 14 this time around and challenge the 16 break down area. 200 day and 50 day looking to set up for golden cross. On monthly chart RSI and MACD ready to run. Upside volume clearly picking up. This is a buy and hold 2020 stock for me. When you push back to the monthly you can see that 45 is very doable!
X- This Stock Looks Dead! (Or is it?) Part 3X- Now lets put some basic lines on our chart.
Looks a bit different now doesn't it?
Does it seem clearer? Hope it helps.
Now we see that good ole' US Steel (X) can actually surprise traders!
The recommendation about buying X on the trend line months ago, certainly looks to be holding nicely.
In fact we've had a very nice little pop as shown.
But what about our friends that want to buy near the buy line? Or if we want to add more position size into
our portfolios?
Lets see if any more wonderful opportunities exist with this stock.
Let's make a final chart with a very close view of where we are now.
Lets see if we can identify a great place to load up again!
Next chart is X - This Stock Looks Dead! (Or is it?) Part 4
X - This Stock Looks Dead! (Or is it?) Part 2Now we are using the correct way to use our stock analysis. We are using the Trading view features of Dividend adjusted Log charts.
We now can see that this stock has some strength building inside of it. After decades of Doom and gloom.
It is surprisingly easy to see this with the correct charts!
Do you see the higher low on the recent weekly bounce?
Let's now drill in on a daily chart and draw a few patterns and channels to help us learn more about this long term investment possibility.
Lets see the next chart X- This stock looks Dead! (Or is it?) Part 3
X- This Stock Looks Dead! (Or is it?) Part 1Many traders and investors see a stock like this and have no interest in a "flatline" dead stock.
However the problem is using the wrong chart set ups.
This is probably how you have your charts set up on Trading view now.
After looking at this chart go to the next chart labeled X - This Stock Looks Dead Part 2
$X United States Steel gets its Mojo back.P/E ratio a ridiculous 2.4
Short interest a very high 33.20% may help fuel a rally.
China trade a big issue for X, a resolution could ignite a massive recovery.
U.S. Steel (X +16.6%) surges to its highest level in three months following Q3 results that were not as bad as feared and the company offers a fairly optimistic take in its earnings conference call.
Margins remain under significant pressure but "signs of life are emerging," as the GM labor deal removes a gap, lead times have extended, flat-rolled order rates have materially improved and scrap prices are expected to improve - boosting the company's confidence that the market will improve from here.
CEO Dave Burritt says U.S. Steel will scale back investments in repairs and upgrades to its existing mills and the construction of a new sheet steel rolling line at its Mon Valley Works to focus on the company's "number one strategic priority" of acquiring the remaining 50.1% stake in Big River Steel in Arkansas.
U.S. Steel expects to spend $950M on mill improvements and equipment in 2020, down from $1.5B analysts had forecast.
"We're in a difficult market environment," Burritt said. "We will remain flexible to manage the pace of our other strategic investments."
Source Seeking Alpha
Company profile
United States Steel Corp. engages in the manufacturing and selling of steel products. It operates through the following business segments: Flat-Rolled Products, U.S. Steel Europe, and Tubular Products. The Flat-Rolled Products segment includes managing steel plants and production facilities that manufactures steel slabs, rounds, strip mill plates, sheets, tin mill, iron ore, and coke. The U.S. Steel Europe segment offers producing and marketsing strip mill plates, spiral welded pipe, heating radiators, refractory ceramic materials. The Tubular Products segment involves in manufacturing and trading seamless and electric resistance welded steel casing and tubing. line pipe, and mechanical tubing. The company was founded in 1901 by Andrew Carnegie, John Pierpont Morgan, Charles Michael Schwab and Elbert Henry Gary and is headquartered in Pittsburgh, PA.
$X Have we reached the bottom for 2019 in US Steel?Maybe clutching at straws here, but their is nice symmetry with the declines of 2014-16 and bullish divergences also exist within the chart.
P/E ratio 2.02 OMG.
33.33% short interest, any good news could blast the stock higher.
Company profile
United States Steel Corp. engages in the manufacturing and selling of steel products. It operates through the following business segments: Flat-Rolled Products, U.S. Steel Europe, and Tubular Products. The Flat-Rolled Products segment includes managing steel plants and production facilities that manufactures steel slabs, rounds, strip mill plates, sheets, tin mill, iron ore, and coke. The U.S. Steel Europe segment offers producing and marketsing strip mill plates, spiral welded pipe, heating radiators, refractory ceramic materials. The Tubular Products segment involves in manufacturing and trading seamless and electric resistance welded steel casing and tubing. line pipe, and mechanical tubing. The company was founded in 1901 by Andrew Carnegie, John Pierpont Morgan, Charles Michael Schwab and Elbert Henry Gary and is headquartered in Pittsburgh, PA.