I took a quick peek at the charts for US Steel (X) the day before its most recent earnings report. Now I want to take a more in-depth look at the United States steel maker and see if there is any upside potential to its charts. Any upside could be directly related to new POTUS mandates for steel and steel production. So let's dig into this US Steel (X) Post-Earnings Analysis and start reviewing some charts!
US Steel (X) - 20 Year Chart
I cover the 20 year monthly candlestick chart for US Steel (X) in this update:
In summary, US Steel (X) formed a Shooting Star candlestick pattern in January 2017. A Shooting Star candlestick pattern is a bearish reversal candlestick pattern. Now let's analyze some shorter-term charts and see how US Steel's share price could pullback to its main supporting trendline. This trade may need a little more flexibility than most trades.
X - Moving Averages
This last chart for the US Steel (X) post-earnings analysis is a 1 year daily candlestick chart.
To tie into my previous article for Walt Disney (DIS), look at US Steel's 1st pullback to the 200 Day moving average after the development of….
If you want to continue reading this article for US Steel (X), you must first login. I discuss a strategy to go long shares of US Steel (X) by identifying different support areas. I then calculate a couple of different upside targets for its share price.
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