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.