• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • TheStreet Smarts
  1. Home
  2. / Investing
  3. / Stocks

X Marks the Spot: U.S. Steel Could Bend to the Upside

Here's why investors in X should win out.
By BRUCE KAMICH
Dec 17, 2021 | 12:16 PM EST
Stocks quotes in this article: X

The share price of U.S. Steel (X) has been under some selling pressure Friday as some investors were not enamored with its outlook for the current quarter. Let's take a look at the charts and indicators to make up our own minds.

In the daily bar chart of X, below, we can see that the shares have been moving sideways since May. X has traded above and below the 50-day and 200-day moving average lines many times. Currently, X is trading below these two indicators.

The daily On-Balance-Volume (OBV) line has also moved sideways for many months and suggests a balance between aggressive buying and aggressive selling. The Moving Average Convergence Divergence (MACD) oscillator is in sell territory but poised for a cover shorts buy signal.

 
In the weekly Japanese candlestick chart of X, below, we see a mixed picture. The shares are trading just below the cresting 40-week moving average line. A small rally would put X back above this indicator.
 
The weekly OBV line made a low in early October and a higher low in early December -- this could mark a turn higher. The MACD oscillator has narrowed and is close to an upside crossover and potential buy signal.
 
 
In this daily Point and Figure chart of X, below, we can see an upside price target in the $27 area. A start.
 
 
In this weekly Point and Figure chart of X, below, we can see an upside price objective in the $48 area.
 
 
Bottom-line strategy: Many, many years ago I worked in the old U.S. Steel headquarters building at 71 Broadway in New York City. It was a time when companies located near the New York Stock Exchange or the commodity exchanges. Today the building houses upscale apartments. In the short run some traders may be focused on day-to-day news but investors in X should win out and we should see X work higher. If you probe the long side you should risk just below $20.
 
Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Employees of TheStreet are prohibited from trading individual securities.

TAGS: Earnings | Investing | Stocks | Technical Analysis | Materials | Industrials

More from Stocks

The Mask Gets Yanked Off of Goldilocks Narrative

James "Rev Shark" DePorre
Sep 21, 2023 4:29 PM EDT

The bulls' story always sounded like a stretch, and now they will have to develop a new narrative to help drive a recovery.

Doug Kass: Risk Happens Fast. This Is All About to Get Real

Doug Kass
Sep 21, 2023 2:30 PM EDT

Caution and stock market congestion may lie ahead as interest rates stay higher for longer, while the stock market decline has now assumed a global character. Plus, more lessons from Howard Marks.

After Splunk Grab, Cisco's a Slam Dunk

Stephen Guilfoyle
Sep 21, 2023 11:54 AM EDT

I didn't like the idea of a cash deal at the start, but after going through the fundamentals, I think it's a wise move -- and here's why I'm adding the stock.

The Day After the Fed Meeting, I'm Gambling on This Stock

James "Rev Shark" DePorre
Sep 21, 2023 11:27 AM EDT

Here's why I like this gaming-related play, and why stocks could eventually offer some good entry points -- but not yet.

Whoa, We're (Only) Half Way There: Why the Correction May Have a Long Way to Go

Guy Ortmann
Sep 21, 2023 10:12 AM EDT

Four key indexes shifted their trends from neutral to bearish Wednesday.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 10:24 AM EDT BRUCE KAMICH

    This Could Get Messy

    A number of key stocks are getting close to import...
  • 01:41 PM EDT CHRIS VERSACE

    Latest AAP Podcast With Helene Meisler!

    Listen in as the Action Alerts PLUS podcast talks ...
  • 09:07 AM EDT JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    The Most Common and Costly Mistake in Investing
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2023 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login