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Stock Market & Financial Investment News

News Breaks
December 14, 2012
14:03 EDTXU.S. Steel breaks out above resistance, new bullish pattern active
The shares are up over 6.3%, breaking out above resistance. Strength today has been attributed to takeover rumors that are unconfirmed. On a technical basis, there is a new bullish price pattern, a bullish symmetrical triangle, that is now active and best visible on a weekly chart. If this pattern remains active and completes, upside could be to the $29 to $30 area over time. This is an area of some resistance from earlier this year. Support is at $23.55.
News For X From The Last 14 Days
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May 29, 2015
09:30 EDTXCredit Suisse said 2H looking like a 'win-win' for US steel equities
Credit Suisse said 2H 2015 is looking like a "win-win" for U.S. steel equities. The firm assumes favorable outcomes in proposed congressional legislation redefining injury in anti-dumping trade cases, a trade case filing, and an end to market restock cycle. Credit Suisse continues to favor U.S. Steel (X) given its leverage to the trade case story and said the entire sector will benefit if 2H plays out as expected. Firm said Reliance Steel (RS), Worthington (WOR), and Olympic Steel (ZEUS) are leveraged to a drop in import volumes and raw materially suppliers Cliffs Natural (CLF), Arch Coal (ACI), and Alpha Natural (ANR) should benefit from production increases in domestic Blast Furnace given less import competition.

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