US Steel X - bullishHere's a bullish count for US steel. I often call my bottoms too early so there may well be another down leg but time will tell.
X trade ideas
Buying More US Steel Shares Today as 34 SMA x 500 HullBuying More US Steel Shares Today as 34 SMA x 500 Hull
brschultz Rule#1: Buy 34 SMA x 500 Hull & Sell Targt 340 Day SMAbrschultz Rule 1: Buy 34 x 500 Hull Sell Target 340 Day SMA
By 2029 United Steel will most likely be above $100/shareBy 2029 United Steel will most likely be above $100/share
Statistically Speaking, US STEEL is being given away @ these $$$Statistically Speaking, US STEEL is being given away @ these $$$
X going for the golden cross...?X about to perform a 4hr/6m goldencross. This could cause the stock to jump $5-$7 dollars. Take a look in the past for this correlation.
Long Scalp - on XMissed the $11 bear target and seems to although shy but breaking previous support. RSI also increasing though plenty to downtrend to fight against on a longer run perspective.
$X Channel Breakout ... ?US Steel wants to break out of its current negative wedge / channel. Trend lines drawn using CLOSING prices. I think a break that holds will result in a retest of support around 17.
Jul-26 13 puts are priced attractively as of 6/10/19. We'll see what happens tomorrow and beyond.
I don't think that was the bottom for X yetI made 2R on X not too long ago. It has bounce a bit here. I'm hoping to catch it back around the 20 EMA before it drops back down to the previous pivot it had. If this trade works, I will probably only take half the profit at the target and see how much lower it will go.
bear call on X 14/14.5closed previously entered bear call spread on X
entered 5/24 for .17 credit
closed 5/29 .08 debit
net $9 profit
X planx may be developing some tailwinds.
iron ore pricing seems to provide inspiration for buyers.
rsi has so far shown a higher low.
I don't think this is bottom for XLet's see if we can break this short term support for a bearish trade, or if X bounces right here.
