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After Yesterday's Rally of 6.17% Shares Could Potentially Pullback

By Shiri Gupta

U.S. Steel (NYSE:X) traded in a range yesterday that spanned from a low of $17.28 to a high of $18.34. Yesterday, the shares gained 6.2%, which took the trading range above the 3-day high of $17.47 on volume of 12.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, U.S. Steel share prices have been bracketed by a low of $6.15 and a high of $27.64 and are now at $18.11, 194% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 5.9%.

SmarTrend is tracking the current trend status for U.S. Steel and will alert subscribers who have X in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders U.S. Steel

Ticker(s): X