United States Steel Hits Major Chart Level, Begins Pullback
Gareth Soloway | Jan 10, 2018 12:16AM ET
Shares of United States Steel Corporation (NYSE:X)tagged a major pivot trend line resistance point yesterday. It was found by connecting the highs from 2014 and early 2017. The price of United States Steel Corp has rallied 50% since mid-November tagging this major resistance trend line. Investors should not be surprised to see the stock pulling back today. Investors should also expect the pull back to continue until price reaches a minimum of $34.75. That signals there is another 10% downside before a potential near-term bottom. Note the chart below.
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