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U.S. Steel Slams Into This Major Buy Level...

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This article is published in collaboration with Scutify, where you can find real-time markets and stock commentary from Robert Marcin, Cody Willard and others. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

Shares of United States Steel Corporation (NYSE:X) hit a major support level today after falling almost non-stop from $42 to $18.55 over the last three months. This stock is so oversold and should have a major technical bounce off this support level. To me, it is a strong buy and I am picking some up. The buy level is anything under $19.25. The first target to the upside is $24.35 with a possible second target move to $28.25. United States Steel Corporation has been under assualt for multiple reasons. First, the odds of tariffs being put on foreign steel (China) are zero at this point. Next, their latest earnings report was just plain bad. While the negative news has been nasty, that is why the stock has been discounted heavily. Per the chart, it is overdone and should see a big technical bounce.


This article was written by Jenny Rebekka for https://verifiedinvesting.com on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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