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Watch for Shares of Us Steel Corp (X) to Approach Support at $42.20

By Shiri Gupta

Us Steel Corp (NYSE:X) has opened bearishly below the pivot of $43.57 today and has reached the first level of support at $42.88. Investors may be interested in a cross of the next downside pivot targets of $42.20 and $40.83.

Us Steel Corp has overhead space with shares priced $41.86, or 1.1% below the average consensus analyst price target of $42.33. The stock should find initial support at its 50-day moving average (MA) of $15.96 and further support at its 200-day MA of $12.50.

In the past 52 weeks, Us Steel Corp share prices have been bracketed by a low of $14.80 and a high of $47.64 and are now at $41.86, 183% 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 recommended that subscribers consider buying shares of Us Steel Corp on February 15th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $39.00. Since that recommendation, shares of Us Steel Corp have risen 11.7%. We continue to monitor X for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts us steel corp

Ticker(s): X