X – US Steel Group, Inc.

Last Updated April 11, 2019

Been almost 3 months since I last updated this ticker, so lets refresh the analyses. So far all this stock has done is going nowhere in 2019; its back to the scene of the crime in its support zone. price is very oversold and a bounce can be expected at anytime. But no sign of a turn/bottom just yet. Clearly a break below $15.49 is bearish can targets $8-$12.

daily chart

The monthly chart as been adjusted based on the daily chart and the 2018 high has now been labeled as major-b and a final c-wave is now underway, which should subdivide. Hence, the aformentioned anticipated bounce based on the daily chart should be (red) intermediate-b, and could go as high as $25 (200d SMA retest?!). Then a last c-wave lower to complete C2 would be ideal. Almost there, just need a few more months 🙂

monthly chart