United States Steel stock price ended at $37.07 on Tuesday, after gaining 0.542%.

StockInvest.us, 4 weeks ago

United States Steel

The United States Steel stock price gained 0.542% on the last trading day (Tuesday, 18th Jun 2024), rising from $36.87 to $37.07. During the last trading day the stock fluctuated 3.31% from a day low at $35.99 to a day high of $37.18. The price has fallen in 6 of the last 10 days and is down by -2.68% for this period. Volume fell on the last day by -455 thousand shares and in total, 3 million shares were bought and sold for approximately $101.02 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

On Jun 17, 2024, it was reported that BMO Capital gave X a "Market Perform" grade with a "hold" 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 -10.37% during the next 3 months and, with a 90% probability hold a price between $30.83 and $35.10 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 3.23%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $37.10 and $37.37. A break-up above any of these levels will issue buy signals.

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 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 $1.19 (3.31%) between high and low. For the last week, the stock has had daily average volatility of 2.13%.

United States Steel holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Check full United States Steel forecast and analysis here.