X Broke support and trading below all moving averages. Next target is around 26 On 12/01 Stock gaped down and then came and retest the gap before going down again and breaking support. Currently at a soft target from the gaps on End July but looks like we can continue down or come back up, test resistance and continue bearish.
Ticker : X ** Trend ** Primary : Sideway Intermediate : Sideway Minor : Sideway Phase : Distribution ** Risk Management ** Risk Unit : $100 Order type : BUY Entry Price : 36.09 Stop LOSS : 34.46 Number of shares : 61 Take Profit (2R : 39.35 ** Price Action ** Elder Daily : BLUE Elder Weekly : RED
The gap indicates the direction of movement.
I'm day trading full time now and, being much busier, have fallen out of the habit of posting my swing ideas on here. By way of apology, here's my analysis of my favorite trade I've made in the last few months. US steel has had a good run over the last four months, moving an average of 7 points a month since June of this year after 3.5 years of accumulation. I...
A month ago, we took to analyse the ascending bullish triangle plus the run away gap up. It looks short sellers are not buying recent change of trend after a sustained downward trend for last 5-years. It seems now the stock in an early stage of come back but yet needs to be seen if it will sustain next few months. if price now solves overhead resistance 47.33...
Last 3-sessions there were some price weakness or pull back from this wonderful upside break out. The price broke out from a solid base with huge volume. This qualifies a breakaway gap which happens at the end of a price pattern and signal the beginning of a new trend. If you look at the chart u will see the ascending bullish triangle had a projected price target...
The red arrows show possible outcomes if the minor green channel forming an uptrend (blue lines) in the channel was broken we would have taken a short position, but the uptrend channel(blue lines) was held so the long position was what held. I hope that makes some sense. My channel is in red from my perspective, i left yours in green
REPUBLISHING UNTOUCHED CHART Click the link to read the full text. Tim 33.22 last 1:35PM EST 7/30/2014
Not totally confident that price will reach targets 2&3 but I do like a short back to the 24/23 levels. If momentum doesn't get absorbed to the downside, we could see a retest of about 20/19.
If X can trade an entire session above $26, this will setup a very nice buy signal. One of my favorite signals of all time is not a technical signal at all, but a KICK-OUT of the S&P500 Index. I don't publish these often, so don't expect me to continue posting them. This one is especially interesting because we are kicking an old classic out of an index, and it...
This post is related to my previous post which listed US Steel as a short candidate (please view attached post). We had stated that US Steel would drop down to the 23 level at the very least. On Friday, the stock traded through our target thus fulfilling our expectation. Legal Disclaimer The value of investments may go down as well as up and you may not get...
Two big volume down days have pushed X's price down substantially. I expect carryover downside momentum to take the stock to 23 at the very least and break the previous support area. MACD histogram aggressively trending down and the Bollinger bands are expanding indicating further downside movement here. The value of investments may go down as well as up and...
X (US Steel) - New Target @ 30.422 | #Steel #NYSE Pending bullish market reversal signal David Alcindor Predictive Analysis & Forecasting