kocurekc
Long

US Steel - Range Bound Opportunity

BATS:X   UNITED STATES STL CORP NEW
123 0 0
Still a dog, but a trade none the less. Long term I don't think is has found the bottom, and for-sure has not turned it around, but short term, a nice way to pick up 10 to 15% over a month period.

*Nice range bounding trading opportunity (albeit declining)
*You've got good volatility , with a nice strong bottom (albeit declining)
*stuck in a declining wedge pattern.
it is heading down again, look for a place to engage

OBV has a near-term breakout, still in long-term decline
Fisher has nice positive bottom
RSI and RVGI can try to indicate and entry point (watch to see if they hold), or if it tumbles for new lows

I think 16.50 to 15.50 is the entry range if the indicators hold with a 17 to $18 top end.

Also, if you're a long-term dollar cost average kind of guy, this 16.50 to 15.50 range is a good point to keep collecting. This dog will have its day,....some day.
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