The post Will United States Steel Stock Break Above $33.69 Level? appeared on BitcoinEthereumNews.com.

lX stock price is facing strong bearish pressure on the daily technical charts. However, the stock is still above the key EMAs. The stock failed to break above its key resistance level of $33.69, despite several attempts by the buyers.  The stock price is near $32.02, with a marginal loss of 1.36% intraday. The stock has a potential upside target of $40, but it needs to overcome the bearish momentum and surge above the upper trendline of $33.69. The stock has a support level of $30, which could prevent further fall. X price prediction suggests that the stock is in the firm grip of the bears and needs to show signs of reversal before confirming a bullish trend. Technical indicators favor the bears projecting a pessimistic perspective for the buyers. RSI and stochastic RSI oscillator are moving near the median zone whereas the major EMA lines are acting as barriers for United States Steel stock price. It reported returns of 26.56% in the year-to-date period, 25.91% in the last six months, 3.02% in the last month, and gave a negative return of 4.22% in the last week. This shows a persistent bearish trend that has not reversed yet. Technical Analysis of X Stock Price in 1-D Time Frame Source: X.1D.NASDAQ by TradingView X stock (NASDAQ: United States Steel) is above the 50 and 200-day daily moving averages (DMAs), which are upholding the price trend.  The current value of RSI is 48.22 points. The 14 SMA is above the median line at 64.88 points which indicates that the X stock is bearish. The MACD line at 0.5288 and the signal line at 0.7313 are above the zero line. A bearish crossover is observed in the MACD which signals more bearishness for the United States Steel stock price. Weekly-Time Horizon Analysis The…

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Filed under: News - @ October 20, 2023 11:10 pm