X trendline bounce Bounced of trendline yesterday and broke thru fib .786
Stop loss at 23$.
target ATH 27$
X trade ideas
Cup and Handle + value sectors set to jump high A beautifull Cup and handle habe been formed and confirmed on weekly - now retracing to the 61.8% Fibo as expected to jump even Higher.
im taking a start here at 21.6 as am not sure its gonna retrace to the 61.8 fibo. i d scale in if it does.
High probability of huge gain
Best buy areaStill not ready for me.
Fib level of 0.764 widely used by its waves and again the new range will meet the widely used ema 70 on the daily timeframe.
MACD is getting ready, and maybe it's ready even now.
X: New support confirmationIf price opens on Monday above the new support line (24 to 25), this could be an interesting opportunity to enter a long position. This industry and specialy X are being benefited by the new infreastructure plan.
X backtest needed before going higher?Can this go higher before a backtest of absolute peak of the cup formation? Might need backtest first. what do you think about X?
United States Steel Corp operates primarily in the United States but also has steelmaking capacity in Slovakia.
The company's operating segments include Flat-Rolled; USSE and Tubular. It generates maximum revenue from the Flat-Rolled segment.
The Flat-Rolled segment includes U. S. Steel's integrated steel plants and equity investees in North America involved in the production of slabs, strip mill plates, sheets, and tin mill products, as well as all iron ore and coke production facilities in the United States.
It primarily serves North American customers in the service center, conversion, transportation, construction, container, and appliance and electrical markets.
X trend holds FIB targets in playX trend break then we retrace to fib retracement points. For now no need to put in play as we are holding trend. Could continue to targets.
X Cup with Handle (Daily)Hot Potato Trader here, what is up fellow trader!
Key Points:
1. Cup with Handle pattern
2. Big Volume Clue at base of cup
3. 33% top of the cup to bottom of cup
4. > 30% increase price in prior uptrend
5. Improving RSI
6. U shape rather than V shape
One of the most important price patterns looks like a cup with a handle when the outline of the cup is viewed from the side. Cup patterns can last from 7 weeks to as long as 65 weeks, but most of them last for three to six months. The usual correction from the absolute peak (the top of the cup) to the low point (the bottom of the cup) of this price pattern varies from around the 12% to 15% range to upwards of 33% (as the case with this chart). A strong price pattern of any type should always have a clear and definite price uptrend prior to the beginning of its base pattern. You should look for at least a 30% increase in price in the prior uptrend, together with improving relative strength and a very substantial increase in trading volume at some points in the prior uptrend.
In most, but not all, cases, the bottom part of the cup should be rounded and give the appearance of a "U" rather than a very narrow "V." This characteristic allows the stock time to proceed through a needed natural correction, with two or three final little weak spells around the lows of the cup. The "U" area is important because it scares out or wears out the remaining weak holders and takes other speculators' attention away from the stock. A more solid foundation of strong owners who are much less apt to sell during the next advance is thereby established.
It's normal for growth stocks to create cup patterns during intermediate declines in the general market and to correct 1 1/2 to 2 1/2 times the market averages. Your best choices are generally stocks with base patterns that deteriorate the least during an intermediate market decline. Whether you're in a bull market or a bear market, stock downturns that exceed 2 1/2 times the market averages are usually too wide and loose and must be regarded with suspicion.
X: Primary, Ascending Triangle, Secondary, Bullish Pennant (79%)Primary Target:
Ascending Triangle, awaiting confirmation (54%)
PT = 37.28$
Secondary Target:
Bullish Pennant (79%)
PT = 43.70$
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.
United States Steel breakout on high volumeUnited States Steel jumped +10% this morning to $25.23 on high volume. Do your own due diligence, your risk is 100% your responsibility. You win some or you learn some. This is for educational and entertainment purposes only. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
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U.S. Steel is a Steal | Long X-Adjusted Q1 guidance upward, net earnings to $265M and $1.02/share from $160M and $0.61/share.
-Business fundamentals remain strong, and the company should continue to benefit from increased demand for steel from a strong global outlook
-U.S. Steel shares will benefit from a weaker dollar, continuation of steel import tariffs, and upcoming Infustracture spending bill
Short Term Trend Up, 20MA > 50MA
Stoch RSI, Buy Signal
Expecting breakout on this third touch of 24.50
𝗨𝗦 𝗦𝘁𝗲𝗲𝗹 𝗨𝗽𝗱𝗮𝘁𝗲: $X Daily. Cup & HandleHas developed into a massive C&H ... wow 👀 ... keep your eyes on this one folks
$FCX $AKS $MP $HG_F $CL_F $SPY $SPX $ES_F $TNX $TLT $ZB_F $ZN_F #Economy #Commodities #Inflation
$X US Steel monthly chartThe optimal time to be purchasing shares was in March 2020, but a break above $24.70 could set up for a move to the $40-60 area. Talk of infrastructure spending could keep a nice bid under this steel stock over the next 6-12 months.
History repeating? Bullish run starting once again for XBullish longterm bias for steel
looking for a breakout of the current handle to complete the next move up but this bullish move can only happen if china trade tensions are still high and steel is limited
X (U.S. Steel Corp) cup and handleAdded 2/3 position in calls already. Dip to 20.94 possible, will add third batch then for breakout
BUY $X PT 30 SL 20
Bullish Long Term Call Option Flow - pbs.twimg.com
Steel Shortages
About to break critical resistance, January Highs
Now above 8/21 EMA
Recovery play
Hard to put a cut loss on this because the support is so far down. Excellent support at 16.
The post COVID era Sentiment I always try to present the charts in a simple comprehensive format to prevent any confusion.
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X forming a strong upward Trend.an interesting correlation with spy, but with its own idiosyncracies. broken some resistances while climbing through that channel.
