X Potential Short OpportunityHead and Shoulders Pattern Found. Downtrend. Fibonacci Levels Drawn. R/S Lines drawn. Possible Short Opportunity.
XCL trade ideas
X earnings crushX is down big premarket to 24.8, long-term daily support is around 24.5. Let's see if that area holds. If it gets below 24 I would stay out.
Looking for a bounce on $X here...The recent fall in the price of US steel is a great oppurtunity for a buy. If it can fall to $27.85, We should get a nice bounce from there.
Buy X between $27.80 and $26.30 for short-term bounce. Buy X between $27.80 and $26.30 for short-term bounce.
US SeelBeen waiting a couple months for X to come down to this demand level. Should stableize here, worth the r/r for a swing here.
Entry: $29.17
Stop: $27.79
Target 1 : $33.5
This stock should trend lower but both opportunities presented.This stock should trend lower but both opportunities presented.
XFoloow the gold candle trajectory. X should bounce of the double bottom and move higher. Low RR as the low can be assumed $30.71 Stops set right below.
NEXT 6 TRADING DAYS FOR US STEELOn March 24, 2017 the United States Steel (X), crossed below its 100 day moving average. Historically this has occurred 152 times. When this happens, the stock does not always continue to drop. It has a median drop of 5.249% and maximum drop of 31.518% over the next 10 trading days. This last occurred twice in October 2016 and the stock dropped 12% over the following 6 trading.
When we take a look at other technical indicators, the relative strength index (RSI) is at 37.0645. RSI tends to determine overbought and oversold levels. I personally use anything above 75 as overbought and anything under 25 as oversold. The current reading declares the stock is looking for direction and has been heading downward since February 21.
The true strength index (TSI) is currently -0.6478. The TSI determines overbought/oversold levels and/or current trend. I solely use this as an indicator of trend as overbought and oversold levels vary. The TSI is double smoothed in its calculation and is a great indicator of upward and downward movement. The current reading declares the stock is trending downward.
The negative vortex indicator (VI) is currently 1.1048. The VI determines current trend and direction. When the positive level is higher than 1 and higher than the negative indicator, the overall price action is moving upward. When the negative level is higher than 1 and higher than the positive indicator, the overall price action is moving downward. The current reading declares the stock is trending downward, with the most recent highly negative reading being 1.3075 on August 25, 2016.
Considering the moving average crossover, RSI, TSI, and VI levels, the overall near-term stock direction appears to be trending downward. Based on historical movement compared to current levels, the stock could drop another 4% before turning upward again. A recently held support area exists at 31.33
long into the close and after-hours or pre-market! hr macd look to be turning bullish.I would buy for today.I think the fundamentals for U.S steel is bearish.
XWith the US Dollar taking a hit Yesterday I bought X. The USD should continue down into a DCL. I suspect most commodity stocks will move higher inverse to the USD. AKS, HBM, might be other good choices. RSI is oversold and moving higher. 61.8% retrace is complete.
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
