United States Steel Stock Forecast
Red day on Friday for United States Steel stock after losing 0.90%
(Updated on Apr 19, 2024)
The United States Steel stock price fell by -0.90% on the last day (Friday, 19th Apr 2024) from $38.94 to $38.59. It has now fallen 7 days in a row. During the last trading day the stock fluctuated 2.22% from a day low at $38.09 to a day high of $38.94. The price has fallen in 8 of the last 10 days and is down by -6.38% for this period. Volume has increased on the last day by 163 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 $117.36 million.
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 -17.73% during the next 3 months and, with a 90% probability hold a price between $28.40 and $35.45 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.
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X Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 0.86%. 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. 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 $40.19 and $42.05. 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.
Support, Risk & Stop-loss for United States Steel stock
United States Steel finds support from accumulated volume at $38.26 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 $0.84 (2.22%) between high and low. For the last week, the stock has had daily average volatility of 3.14%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (X) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect United States Steel Corporation to open at $38.54, and during the day (based on 14 day Average True Range), to move between $37.45 and $39.73, which gives a possible trading interval of +/-$1.14 (+/-2.95%) up or down from last closing price. If United States Steel Corporation takes out the full calculated possible swing range there will be an estimated 5.90% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $38.85 (0.67%) than the support at $38.26 (0.86%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
United States Steel will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.780. We will update the financials statements for United States Steel, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.50% in the first trading day after earnings release.
Is United States Steel Corporation stock A Buy?
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.
Current score: -2.371 Sell Candidate Unchanged
Predicted Opening Price for United States Steel Corporation of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $38.54 ( 0.134%) | $38.59 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for X
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 39.38 | 2.06 % | |
| R2 | 39.06 | 1.22 % | ||
| R1 | 38.86 | 0.703 % | ||
| Current price: | 38.59 | |||
| Support | S1 | 38.22 | -0.97 % | |
| S2 | 38.02 | -1.49 % | ||
| S3 | 37.69 | -2.32 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 46.63 | 20.83 % | |
| R2 | 40.86 | 5.88 % | ||
| R1 | 38.85 | 0.674 % | ||
| Current price | 38.59 | |||
| Support | S1 | 38.26 | -0.86% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
X Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 01, 2024 | Feb 09, 2024 | Mar 13, 2024 | $0.0500 | 0.122% |
| 2 | Oct 26, 2023 | Nov 03, 2023 | Dec 07, 2023 | $0.0500 | 0.139% |
| 3 | Jul 27, 2023 | Aug 04, 2023 | Sep 07, 2023 | $0.0500 | 0.162% |
| 4 | Apr 27, 2023 | May 05, 2023 | Jun 07, 2023 | $0.0500 | 0.220% |
| 5 | Feb 02, 2023 | Feb 10, 2023 | Mar 14, 2023 | $0.0500 | 0.185% |
FAQ
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