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United States Steel CorporationUnited States Steel CorporationUnited States Steel Corporation

United States Steel Corporation

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X trade ideas

X: Time to reshort has comeWe have a pretty clear shorting opportunity in X. I had succesfully shorted it before, you can see my previous post in related ideas. Fundamentals weigh heavily in steel right now, and the technicals in this chart are compelling, so I reccomend entering shorts under 16.33, with stops above 17.10, and target at least a retest of the recent lows, but we could break under this zone as well. Check out my updated track record here: pastebin.com If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year. Cheers! Ivan Labrie Link to Tim West's chatroom: www.tradingview.com We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask. Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance0.57% on such information.
NYSE:XShort
by IvanLabrie
X: Massive top spottedWe can enter shorts in any way you prefer here. Stops should be above 18.89, the rest is up to you, can be an options play, or shorting stock. Targets are a retest of 12 initially, but I can see it hitting 7 in the intermediate term. If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year. Cheers, Link to Tim West's chatroom: www.tradingview.com We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
NYSE:XShort
by IvanLabrie
19
United States Steel seems strongI bought United States Steel yesterday @24.99. Although yesterday's close confirms the test, the volume is low so the stock could rest again, but the background seems in favour of higher prices. Detailed analysis: 1 - A sign of accumulation: high volume candle with a narrow spread that touches new lows but closes on its highs. The next candle closes lower and signals that there are still sellers 2 - A long spread candle on ultra high volume that closes in its lows. Next candle touches new lows but closes higher so the volume on the previous candle wasn't selling: another signal of accumulation 3 - Ultra high volume after earnings and the candle closes in its middle: this could be a signal of a change in the supply/demand dynamic of the market. Since the candle closes in its middle, the market needs to find out how much sellers are still present 4 - This is a low volume test of supply in the body of the "earnings candle". The next candle closes higher although volume is lower 5 - Another test. The next candle closes higher in its high but volume is low, not an ideal confirmation but the closure on its highs is a sign of strength
NYSE:XLong
by YoungAnalyst
Possible recovery of Steel MarketJAN08: Downtrend has taken the price to the Lower Channel Support Line, there is a positive momentum divergence. Look for the 0.236 Fib level, it is Resistance @28, if it goes above 28, it may reach 31. The two words of warning here is that the first move could be just a short squeeze due to short covering at this level and the second is Earnings is scheduled on the 26th. Entry @28, Target 1 @31, Target 2 @ 34, Stop @ 25 Ref. "UNITED STATES STEEL CORP -X -DAILY - LEVEL TO BUY" by Tim West.
NYSE:XLong
by Madrid