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United States Steel - Barchart's Chart Of The Day

|Includes:United States Steel Corporation (X)

The Chart of the Day belongs to United States Steel (NYSE:X). I found the stock by sorting today's New High list for new high frequency in the last month, then used the Flipchart feature to review the charts. Since the Trend Spotter signaled a buy on 7/23 the stock gained 27.12%.

United States Steel manufactures and sells a variety of steel mill products, coke and taconite pellets. Primary steel operations are the Gary (Indiana) Works, the Fairfield (Alabama) Works near Birmingham, the Mon Valley Works ( which includes the Edgar Thomson steel making and Irvin finishing operations) on the Monongahela River near Pittsburgh, and U. S. Steel Kosice in the Slovak Republic.

(click to enlarge)Click to enlarge

Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

  • 96% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 17 new highs and up 40.01% in the last month
  • Relative Strength Index 82.04%
  • Barchart computes a technical support level at 35.50
  • Recently traded at 36.38 with a 50 day moving average of 28.41


Fundamental factors:

 

  • Market Cap $5.26 billion
  • P/E 56.42
  • Dividend yield .55%
  • Revenue expected to grow 3.20% this year and another 2.50% next year
  • Earnings estimated to increase 275.70% this year, an additional 23.10% next year and continue to increase at an annual rate of 6.50% for the next 5 years
  • Wall Street analysts are all over the chart with 1 strong buy, 6 buy, 7 hold, 2 under perform and 3 sell recommendations


I'd ride the tide and if the stock drops below the 50 day moving average place a stop loss at the 100 day moving average

Stocks: X