Green day on Monday for United States Steel stock after gaining 0.417%

The United States Steel stock price gained 0.417% on the last trading day (Monday, 29th Jul 2024), rising from $40.75 to $40.92. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.28% from a day low at $40.58 to a day high of $41.10. The price has risen in 6 of the last 10 days and is up by 6.12% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 473 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $78.17 million.

On Jun 25, 2024, it was reported that BMO Capital gave X a "Outperform" grade with a "upgrade" action.

The stock has broken the wide and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $40.27, a level that may pose a second chance to hit a runner. According to fan-theory $44.53 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

The United States Steel stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $39.66 and $38.11. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 16.22%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

On the downside, the stock finds support just below today's level from accumulated volume at $38.35 and $38.18.There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, United States Steel finds support just below today's level at $38.35. If this is broken, then the next support from accumulated volume will be at $38.18 and $35.91.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.520 (1.28%) between high and low. For the last week, the stock has had daily average volatility of 2.65%.

United States Steel holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.