$X Have we reached the bottom for 2019 in US Steel?

Maybe clutching at straws here, but their is nice symmetry with the declines of 2014-16 and bullish divergences also exist within the chart.
P/E ratio 2.02 OMG.
33.33% short interest, any good news could blast the stock higher.
Company profile
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.
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If you adjust your descending upper line, you would notice that there is no breakout yet, but close.
I have follow this instrument for looong time, at I fully agree with your idea.
For a long time investor this is the case. Love it.
But make your protections as safety.
+1 Reply
peteziv abcribe
@abcribe, I've been wathing X for a little while and have managed to average my cost down to $11.30 and waiting for a new cycle... just curious on your thoughts of us getting another buying opportunity below $11 before then?
Double bottom around 6.xx may be in store. Seeing similar behavior with FCX (copper)
+1 Reply
peteziv The_Real_AMF
@The_Real_AMF, that would be great, but what makes you say that? Do you think it will be a function of a broader market move or some fundamental change in the company's financials?
@peteziv, Just speculation. I see more weakness in store for the indices, be it bad trade talks, lack of deal, impeachment, the FED, Hong Kong, etc. I'm just saying that I am watching and waiting for a lower entry, I don't see these tickers doing well until there is some resolution to these trade talks. It wont be straight down and I am expecting some relief up to 15 or even 20 by the end of the year. Im playing along the way but as far as going super long im waiting. VIX has bottomed at 12 and is coiling, the fun is going to start soon.....

Thanks for the comment.
+1 Reply
peteziv The_Real_AMF
@The_Real_AMF, great reply. Thanks for the insights, I too am long volatility (but it's taking a while to break out) :)
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