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Look for Shares of Us Steel Corp to Potentially Rebound after Yesterday's 1.22% Sell Off

By David Diaz

Us Steel Corp (NYSE:X) traded in a range yesterday that spanned from a low of $29.40 to a high of $30.55. Yesterday, the shares fell 1.2%, which took the trading range below the 3-day low of $30.17 on volume of 9.5 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Us Steel Corp has traded in a range of $22.94 to $47.64 and is now at $29.92, 30% above that low. The 200-day and 50-day moving averages have moved 0.18% higher and 1.04% lower over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Us Steel Corp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Us Steel Corp in search of a potential trend change.

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