A lot of support below (green rectangle)
After that break, price pushed to new highs and now it is pulling back.
Ideally we see a retest of previous resistance as support, or if we can see any sort of bull flag and break also validates the idea
X (United States Steel Corporation) stock price has double-topped below $38.57. Bearish momentum (MACD) has down-crossed on a daily time frame.
Entry (short): $37.25
Profit Target +12% (exit): $32.76
Stop Loss -6% (exit): $39.49
Utilize stop loss, profit targets, position sizing, and risk management.
Note: Many stocks and ETFs have already rallied up for the...
The earnings. The chart. The retracement. Lordy. Who though US Steel would be one of the best performing stocks this year? Not me. Seeing Gary IN on the other side of Lake Michigan always terrified me, as it does with every other Chicagoan. But now apparently the symbol of American rust and decline is making a resurgence. Pig iron demand has the furnaces blazing...
Yesterday we are seeing improvement KLSE steel sectors... Can it go up further ?
Well take a look at comparison between USSteel and AnnJoo.. Generally their movement having high correlation.
KLSE Steel Counters are lagging as compared to their cousins from US.
In March 2003, X was $10/share roughly. It then went to $190+ over the next 5 years before topping June 2008. I think we are in a multi-year cycle similar to that. You will look back on these prices in many of these materials, metals, energy, and other stocks and wished you had gotten in. However, even though the idea of a new commodity super cycle is fascinating...
From God’s point of view and knowledge, the current area is considered to determine the direction of the stop, for example, when buying, the close is in the 45m candle, and the stop is below the area and vice versa.
Breakout Trading for long-term investment opportunity.
Expecting the breakout trend on coming weeks once it happens it will reach minimum 70$ then 85 $ Target
Happy Trading!!!
jk it looks like its about to get rejected heavy at orange, but if it doenst itll run to $46 at blue and then i have levels marked higher up on this chart they are just not in view yet, but if we get there youll know
Strong trend. Can serve as the "higher TF" for smaller TF trades.
POI's:
Steel broke out from downtrend
POC is supporting the main uptrend.
If already long on the daily. TP at $46.50, the highest price reached by previous peeks
The anchored vwap is shown below - a close-up of the trend.
Have not chosen a trade/plan yet. Hope this is useful as the "raw...
GOOD MORNING,
Today, there are several indicators for the X stock, and all of these indicators say that there is a rise in the coming days, so I think it is good to buy now.
First, we are above the VWAP and above the resistance, so we are a little protected, especially since they are resistances related to days,
Second, the 4EMA indicator is in the correct order...
Using the basics trendline analysis for X we can see that We are in a bullish channel. At least the security be close to 26.25.
However, in the last three days, we can see a Key Reversal that is pushing the price to channel support.
A price to start accumulating this security is around 21.06 which is near 10% of losses and near the support of 20.43
