Red day on Thursday for United States Steel stock after losing 1.29%, 1 month ago

United States Steel

The United States Steel stock price fell by -1.29% on the last day (Thursday, 13th Jun 2024) from $37.24 to $36.76. During the last trading day the stock fluctuated 2.51% from a day low at $36.29 to a day high of $37.20. The price has fallen in 6 of the last 10 days and is down by -3.57% for this period. Volume has increased on the last day by 591 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 3 million shares were bought and sold for approximately $96.08 million.

On May 20, 2024, it was reported that Jefferies gave X a "Buy" grade with a "initialise" action.

The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -9.23% during the next 3 months and, with a 90% probability hold a price between $31.55 and $36.06 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

United States Steel

A buy signal was issued from a pivot bottom point on Friday, May 17, 2024, and so far it has risen 2.37%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The United States Steel stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $37.75 and $37.41. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

United States Steel finds support from accumulated volume at $36.60 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.91 between high and low, or 2.51%. For the last week, the stock has had daily average volatility of 2.04%.

United States Steel holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Check full United States Steel forecast and analysis here.