• Return to Headlines

Bearish Moving Average Cross by U.S. Steel (X)

By James Quinn

U.S. Steel (NYSE:X) crossed under its 10-day moving average of $33.58 on a volume of 12.2 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, U.S. Steel has traded in a range of $6.15 to $41.83 and is now at $32.41, 427% above that low. The 200-day and 50-day moving averages have moved 0.24% higher and 5.94% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of U.S. Steel on March 8th, 2017 by issuing a Downtrend alert when the shares were trading at $36.32. Since that call, shares of U.S. Steel have fallen 4.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses U.S. Steel

Ticker(s): X