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United States Steel Corp.
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|It was a third consecutive positive week for the United States Steel Corp. (X). During the week, the X gained 1.09 points, or 6.01%, and closed at 19.23 on Friday, May 10, 2013. It was the best weekly gain since January 4, 2013. Weekly volume was -14% below average. |
X is a member of Metals Fabrication Industry. Metals Fabrication is the second most oversold industry. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
Long-term trend: [See X long-term trend chart]
A long-term downtrend had started on April 6, 2010 at 70.95 and reached 15.80 on April 22, 2013. X lost 55.15 points, or 77.73%, in 158 weeks. The price is now at the 6.22% retracement level.
Medium-term trend: [See X medium-term trend chart]
A medium-term downtrend had started on January 3, 2013 at 26.29 and reached 15.80 on April 22, 2013. X lost 10.49 points, or 39.90%, in 15 weeks. The price is now at the 32.70% retracement level.
Weekly Technical Indicators: [See X weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The weekly MACD line is below its signal line since February 22, 2013. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
Short-term trend: [See X short-term trend chart]
A short-term uptrend had started on April 22, 2013 at 15.80 and reached 19.47 on May 8, 2013. X gained -3.67 points, or -23.23%, in 16 days. The price is now at the 6.54% retracement level.
Daily Technical Indicators: [See X daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. Use the following link to access Williams' Percentage Range help.
The daily MACD line is above its signal line since April 23, 2013. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.
During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.