X, daily
X, monthly
Summary
The Steel producers were the centre of attention today, as they were once again at the Whitehouse, as President Trump signed another exec' order.
--
Well... maybe Trump didn't exactly write a giant X... but that screenie was too tempting not to edit.
--
US Steel's CEO Longhi continues to catch media attention...
Longhi seems a pretty reasonable guy, and I hope he stays with US Steel for the long term.
--
So, what about the stock?
X has had a really rough time since the late Feb' high of $41.83. The stock has come very close to the 200dma in the $27s... but its held... just.
First soft upside target is around $34, where the 50dma will be lurking in May. The grander issue is whether X can manage a monthly close above the $40 threshold, which has been resistance for much of the past ten years.
Lets be clear, a monthly close >$40 will offer grander upside to $60, and right now, that is double the current price. I admit thats an exceptionally bold target, and for the 'conservative bullish chasers' out there, they'll wait for such a monthly close.
