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Next Resistance Level for U.S. Steel (X) is $29.98

By Shiri Gupta

Shares of U.S. Steel (NYSE:X) have bullishly opened above the pivot of $28.66 today and have reached the first resistance level of $29.20. Investors may be interested in a cross of the next upside pivot targets of $29.98 and $31.30.

There is potential upside of 30.1% for shares of U.S. Steel based on a current price of $29.81 and an average consensus analyst price target of $38.79. The stock should discover initial support at its 50-day moving average (MA) of $15.96 and subsequent support at its 200-day MA of $12.50.

Over the past year, U.S. Steel has traded in a range of $6.15 to $41.83 and is now at $29.81, 385% above that low. 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 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 21.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts U.S. Steel

Ticker(s): X