X - selling lower on good earnings

US Steel saw good earnings, but still settled lower for a third consecutive day, -2.1% at $36.61. S/t outlook is bearish to the 50dma around $35.00. The m/t outlook is hyper bullish to $60 (with intermediate psy' $50), based on an FPE in the 9s, within a broadly accelerating US/world economy.


X daily

X monthly

Summary

First...see...

http://www.ussteel.com/investors/reports-filings 

Especially useful is the presentation:

http://www.ussteel.com/sites/default/files/reports_filings/USS%20Earnings%20Call%20Slides%2C%20Remarks%20-%202017%204Q%2CFY.pdf
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Suffice to add, earnings were good, and the outlook is outright superb. With annual EPS set to be around $3.80, that brings the FPE down to the 9s.

Considering the accelerating US/world economy (at least into mid 2019), the outlook for US Steel is very positive.

Technically, the stock did notably fail to break AND hold above multi-year resistance in January. On balance, it should manage this in Feb' or March. Any monthly close >$40 will offer a grander run to (at least $60) within 9-18 months.

The hyper bulls (sp'4-5K) could start to target 100/115 in late 2019/2020.