Short US Steel (X)Trump rally is overblown. China serious risk of deflation. Technicals look pretty good. Divergent RSI momentum and key Fib retracement level. I am short X
0LJ9 trade ideas
X - Potential Re-Test of new support.I will be looking to buy if this bounces off support around $27.40.
United states stl corp - XResitant at ichimoku with previous resistant trendline resistant.
Target 16 SL 22 on closing basis.
Fresh buy only if closes above 22 only with target of 28.
The idea is also supported by overbought stochastic and RSI.
$X possible topH&S top forming on hourly chart of $X. Could also be a bull flag. Flag if > $20.80. H&S if < $19.40.
Bullish Strategy for X, Bearish Contingency Assuming you bought around 19.6--> 1.81 Risk/Reward Ratio. Look to sell around 1.618 of AB
X StrangleI've been bullish on X for a while now, but it is setting up a textbook head and shoulders if it cannot break the strong resistance at the 20.31 level. Thru earnings, I think X will end up in either of the boxes depending on how they report. Looking for feedback on this one.
X : 2 plans for both C & PX to call when break up the resistant line (red line)
or X may form H&S pattern, so X to put when fall below the uptrend line (pink line)
US STL ($X) to go on sale? I see a completion of a year-long H&S as part of a large downtrend. The 1.618 extension puts the end at about 10 bucks! Support--> new resistance. Alternate setup at 22 for bullish QE/steel sentiment following US election. (XABCD pattern)
Could Uncertainty and Volatility Cause US Steel Corp to 12?Retracing to the 1.618 could double the stock
Head & Shoulders US Steel CorpHistorically, a selloff occurs right after dividends are collected. Prime example would be last time. Price gapped up after a good earnings report but investors realized it was over bought and buried it after they made money on dividends.
As well as the bearish head & shoulders
X possible bullish move comingX has made a turnaround. But the true test is coming. I'm going long with a stop under the 100ma. If support fails I will be switching to the short side
good pair tradeI like a pair trade long x and short rock with the same dollar amount on both sides. A good entry would be
2.1 shares of x for every share of rock if you can catch the market when the prices are lined up that way.
just divide the price of rock by the price of x, and if you get anything close to 2.1, enter at the market.
as an example, you would short 100 shares of rock and buy 210 shares of x
X Bearish Trigger is on RadarX bull trap is on. watch like a hawk the bearish trigger point 19.50ish
