After Yesterday's Rally of 1.91% Shares Could Potentially Pullback
U.S. Steel (NYSE:X) traded in a range yesterday that spanned from a low of $20.19 to a high of $20.95. Yesterday, the shares gained 1.9%, which took the trading range above the 3-day high of $20.18 on volume of 8.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
U.S. Steel share prices have moved between a 52-week high of $27.64 and a 52-week low of $6.15 and are now trading 232% above that low price at $20.41 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 5.9%.
SmarTrend recommended that subscribers consider buying shares of U.S. Steel on September 23rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $18.90. Since that recommendation, shares of U.S. Steel have risen 5.1%. We continue to monitor X for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders U.S. Steel