Shares of United States Steel ( X) are making new highs for the move up today. We have not looked at X closely since January 7, 2021 when we wrote that "Prices have tripled in about four months. It's impressive, but the rally is probably not over. Prices, however, could use some sideways consolidation before renewed gains. Traders should probably wait for a pullback into the $20-$19 area before buying. Risk a close below $16. $33 is our Point and Figure target for now." 
Let's get some up to date charts and check on X.
In this daily bar chart of X, below, we can see that prices finally reached the $33 price target (see above). Prices have been stuck in an $18 to $30 trading range for several months and finally broke out on the upside this month. X is trading above the rising 50-day moving average line as well as the rising 200-day line.
Trading volume has been stronger the past two and a half months and the daily On-Balance-Volume (OBV) line has made its own upside breakout from a one-year sideways pattern. The Moving Average Convergence Divergence (MACD) oscillator is bullish.
In this weekly Japanese candlestick chart of X, below, we can see a more dramatic-looking upside breakout. Prices have rallied from $18 and we find no signs of upper shadows. The 40-week moving average line is rising.
The weekly OBV line shows strength from early October. The MACD oscillator is bullish.
In this daily Point and Figure chart of X, below, we can see a possible upside price target of $55.
In this weekly Point and Figure chart of X, below, we have a price target of $66.
Bottom line strategy: If you are still long X - great. Traders looking to get long X should wait for a dip towards $34. Risk to $30. $55 is our first upside price target.
