Stronger technical forecast for United States Steel stock price after Tuesday trading.

The United States Steel stock price gained 3.62% on the last trading day (Tuesday, 23rd Jul 2024), rising from $38.10 to $39.48. During the last trading day the stock fluctuated 4.43% from a day low at $37.90 to a day high of $39.58. The price has fallen in 6 of the last 10 days but is still up by 1.78% 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, 2 million more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $116.50 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 $39.47, a level that may pose a second chance to hit a runner. According to fan-theory $43.31 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 $38.36 and $37.88. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, July 18, 2024, and so far it has risen 4.33%. 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).

United States Steel finds support from accumulated volume at $38.35 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 $1.68 between high and low, or 4.43%. For the last week, the stock has had daily average volatility of 2.26%.

United States Steel holds several positive signals and has broken the weak rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.