Shares of U.S. Steel (X) are falling as the stock unwinds an overbought situation as the infrastructure bill has stalled in the near-term. As U.S. Steel falls, investors can look at a major trend line of support stretching back from to September 2020, when the stock was under $7/share. That trend line connects through all lows following and gives a major basis of technical support. The current trend line sits at $19.85. With the stock trading near $21.25, it signals further downside. However, swing traders should be ready for a bounce at the $19.85 level.
Members of Gareth’s Verified Investing Alerts closed out a total of 206 swing trades in 2020 for a net gain of 1,507.67%. Gareth has already banked 398.49% net (42 winners, 1 loser), in Verified Investing Alerts in 2021 for members! Join now and get the exact entry/exit price alerts, stops and targets…LIVE as well as daily videos, weekly live broadcasts and free educational videos. Get The Action NOW by Clicking HERE.