XUSS trade ideas
Elliott Wave Analysis of United States Steel (X)Highly speculative analysis of a difficult pattern. Expecting another drop to a new low to complete this segment of the pattern, as illustrated.
If my analysis is correct then there is significant value as price rises in the projected pattern.
X Want To Buy This Name Below It's 52 Wk Low? Read Below If X is a name you'd like to own for the long term with an infrastructure bill in coming years in mind consider selling NOT buying OTM PUT LEAPS at $6 a year or so out - if the name gets "Put" to you your price should be below the recent 52 wk low once you consider the inflated premium you'll be collecting - as always this is not advice.
X Buy This Name Right For a Potential 300% UpsideX a GREAT American company with a not so great chart - we are looking for an entry in the $8 area but this will take some real patience for a potential big payday. We will NOT short this name - we will be patient. As always do your own DD. #trading #stocks #fintech
CLOSING: X APRIL 17TH 2 X 14 SHORT CALLS... for a total .08 debit and opening the April 18th 11 short call for a .30 credit.
Notes: Now that earnings are in the rear view, continuing to chip away at cost basis. Scratch at 7.65. Unfortunately, the short call is currently below my cost basis if assigned on the 22 shortie (22 -7.65 = 14.35/share) ... .
X - change of character?X has been trading surprisingly well this week. On Monday after printing $4.53 near the open, it closed off only a dime at $5.32 with the market down 3000 points. Yesterday X closed $5.58 after trading as high as $6.25. Today X held Monday's opening print of $4.53. I'm starting to see a change of character. Watchlist item.
$X US STEEL NOW BECAME BULLISH - LONG TARGETING 14 CURRENT 7 After waiting more than 2 months , the bullish pattern had been completed and ready to start new up trend targeting 14 which is around double today bottom .. oversold indicators .
Bullish Cypher Pattern - US STEELBullish Cypher pattern created in US STEEL... the 1 industry that ahs not benefited much from TRUMP Economy- is now starting to look like it wants to wake up!
United States Steel Signalling a Reversal
Bullish signals developing
RSI reversing
MACD crossed bullishly
Histogram bullish.
Bollinger bands tightening
RSI still at oversoldRSI still at oversold, but for now, fundamentals dont warrant a long trade; however, it may eventually show signs of recovery
RSI at extreme oversold RSI at extreme oversold and price its lowest leve lin almost 4 years,RSI at extreme oversold; good to go long if price closes at or above 11.75 (daily) .posible TP at 11.32
United Stated Steel reversal 38% drop since December seems overdone.
Reversal opportunity.
Tariffs didn't work out like expected fro POTUS.
Short interest very high at 32% could fuel the rally.
Company profile
U.S. Steel reports Q4 2019 earnings, beating analyst estimates on both earnings and revenue.
During the earnings call, the management states that the market has hit a bottom.
The stock has lost a lot of ground since December, and it looks like it's time for an upside correction.
Longer-term concerns about elevated debt levels and increased capital spending remain intact. In the short-term, coronavirus is the main threat.
Source seeking Alpha
US steel could be reversing soonWhile the macro has been bringing bearish news, you can’t cover your ears when the TA gods reach out.
Reasons for reversal:
- price near .886 pcz of huge weekly harmonic
- weekly bullish divergence on both indicators
- daily and 4h divergence on macd
- daily gap to fill at $13
- Trump to further deregulate US menufacturing
This should be a position trade held for over one year, leverage not recommended.
Disclaimer: this is not financial advice, please do your own research before opening a position
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Appreciate the support and much more to come :)
$X Remained Bearish targeting 8-7.5 Short started from 14As expected $X keep falling after forming tops at 14.5 . we can see all indicators are oversold but no signs of reversal move yet . if we found good volumes comes IN between 7.5-7 then we can check for long opportunity otherwise still showing negativity and short is better opportunity .. check previous analysis for further details while it was at 14
US Steel reports smaller loss than expected U.S. Steel (NYSE:X) +6.2% after-hours after reporting a smaller than expected Q4 loss and saying it expects improving results this year following Q1.
Q4 revenue fell 23% Y/Y to $2.82B from $3.69B; flat-rolled shipments fell 8% to 2.52M net tons at an average realized price of $699/ton vs. $823/ton in the prior-year quarter, and tubular shipments slid 10% to 193K tons at an average realize price of $1,298/ton vs. $1,488/ton a year earlier.
But U.S. Steel expects Q1 will be "the trough for the year due to the normal seasonality of our mining operations and lower shipments in Flat-rolled as the company prepares for the April blast furnace outage at Gary Works."
Source seekingalpha
United States Steel Earnings not as bad as expectedU.S. Steel (NYSE:X) +6.2% after-hours after reporting a smaller than expected Q4 loss and saying it expects improving results this year following Q1.
Q4 revenue fell 23% Y/Y to $2.82B from $3.69B; flat-rolled shipments fell 8% to 2.52M net tons at an average realized price of $699/ton vs. $823/ton in the prior-year quarter, and tubular shipments slid 10% to 193K tons at an average realize price of $1,298/ton vs. $1,488/ton a year earlier.
But U.S. Steel expects Q1 will be "the trough for the year due to the normal seasonality of our mining operations and lower shipments in Flat-rolled as the company prepares for the April blast furnace outage at Gary Works."
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.
The Iron hands - Bottom on XI won't buy now but must keep an eye on it. 9.35 is a gap on the daily chart, it is likely to cross down and fill then reverse.
I believe big money is buying...
$X Possible deep Bearish Goal at 7-7.5 and double tops at 14This stock keep falling and recent bounce did not attract high volume . perhaps the decline will continue and nearest target at 11.5 but this pattern suggest break down previous bottom and drop up to 1.62 fibo which is near by 7.5 which will huge decline from current price almost half of it.. let see . stoploss for this idea is to break up double tops at 14 and current price at 13.12 .. not far away..
US STEEL longNormally id wait for the forecasted candle to print but I dont have time today. Looks like a sideways move for now
