United States Steel

looks like a confirmed double top # 70050

high beta in trouble...

getting close to a good level

Confirmation coming in about 1 weeks time but expect US STEEL to go to at least $35 in the next 2 weeks and possibly higher this stock is going to RUN NOW!

its holiday week..

looking to enter puts...

still not yet

I wouldn't suggest that yet...This week is going to provide the bases of what happens with US Steel next week as STLD & Nucor are releasing there Q1 earnings this week and if they both beat estimates my bet is strongly on that US Steel will surely beat estimates...

what a nice recovery from the low this morning.

yea

seems like its stablized now

not a fan of the sector and this stock

BOOYAH!!! Smashed estimates just like I expected this is what US Steel finally needed now we can start seeing the run upwards!!!

BINGO!!! The golden cross has been formed with X with the 50 MA crossing the 200 MA this confirms a BUY in my books. Watch now within the next 3 weeks as we approach past $35 if you don't believe me just view past charts for the last 3 years people...Excellent BUY in my books!

I can highly say that US Steel has experienced the double bottom and might need one more day to confirm but it has finally come and now I state that US Steel is going to be turning around. With the RSI at oversold territory around 20 and the stock confirming a 3% retracement of the previous low in October along with the Volume being later then October I am confirming here that we should see a turn around in US Steel this week and maybe a advanced of it past the resistance level of $32. We must also first confirm any macro news that will be coming out as of course if we receive QE3 from Big Ben or quantitative easing from China that will surely throw the market back but we must also understand YTD we are still up in the DJIA along with the SPY. As well if Greece stays in the Euro then we shall surely be heading towards Green skys. GLTA

Remember that steel markets do well when the housing market does well. If you have faith in housing, then X or NUE, would be a decent play.

looking interesting here....possible inverse H&S playing out on the daily chart

Can someone please post a techniqual cart for this?  not to good with charts yet, but thinking about jumping in this.  Any suggestions?

Inverse Head and Shoulders pattern:

Thanks OldFart :)  looks like this stock is getting ready for a nice run-up.  I'll wait until monday morning to jump in and hope this makes me some money.

Quote:

Originally Posted by Sunnysd1 

Thanks OldFart :)  looks like this stock is getting ready for a nice run-up.  I'll wait until monday morning to jump in and hope this makes me some money.

remember next week only has 3-1/2 days of trading...1/2 day tuesday, and totaly closed wednesday

also, be very carefeul with this one....the H&S pattern could fail, so have some stops in place

Once again thanks....I totally forgot about short week.  I jumped in at $12.40 and put a stop loss at $12 hopefully I wont see that stop loss get triggered and make some money in the next few weeks.