Stocks

Steel in a hesitant place - Analysis - 11-02-2019

2019-02-11 12:52:58 GMT (Economies.com)

US Steel Corporation's stock tumbled 2.75% in the last session, or 0.62 points, after testing the resistance of the downward trend line in the short term, with negative signals from the RSI after reaching overbought levels, countered by positive support from the 50-day SMA. 

 

Therefore we expect more losses for the stock, especially if it settled below 21.75, targeting the support of 17.25. 

 

Expected trend for today: Bearish 

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