United States Steel Corporation (NYSE:X) reported earnings this morning. The stock has soared, making new 52 week highs.
** Where is X heading and what caused the pop?
Earnings were solid but this run higher is more based on short covering than positive results. This tells us the pop in the stock price will run out of steam. The question is, at what price level? The price level to watch is quickly approaching based off a beautiful trend line seen in the chart below. Look for a max move of $23.50 on U.S. Steel before a pull back begins.
Chart: http://ift.tt/2acIk0j
Gareth Soloway
InTheMoneyStocks
Submitted July 26, 2016 at 02:42PM by inthemoneystocks http://ift.tt/2abKt9j
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