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Us Steel Corp (X) Approaches New Downside Target of $11.21

By David Diaz

Shares of Us Steel Corp (NYSE:X) opened today below their pivot of $11.98 and have already reached the first level of support at $11.66. Investors may be interested in a cross of the next downside pivot targets of $11.21 and $10.44.

Over the past year, Us Steel Corp has traded in a range of $11.41 to $31.59 and is now at $11.61, 2% above that low. Over the past week, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has remained constant.

Us Steel Corp has overhead space with shares priced $11.61, or 15.8% below the average consensus analyst price target of $13.79. The stock should run into initial resistance at its 50-day moving average (MA) of $14.21 and subsequent resistance at its 200-day MA of $18.86.

SmarTrend recommended that its subscribers protect gains by selling shares of Us Steel Corp on July 9th, 2019 by issuing a Downtrend alert when the shares were trading at $13.47. Since that call, shares of Us Steel Corp have fallen 10.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts us steel corp

Ticker(s): X