Watch for Continued Losses in Shares of U.S. Steel (X)

Published on Wed, 07/22/2015 - 16:30
By Adrienne Chilton in 52 Week high-lows, X, 52 week high/lows, nyse:x, u.s. steel

Shares of U.S. Steel (NYSE:X) traded at a new 52-week low today of $16.81. Approximately 7.5 million shares have changed hands today, as compared to an average 30-day volume of 7.6 million shares.

United States Steel Corporation is an integrated steel producer with production operations in North America and Europe. The Company's operations include coke production in both North America and Europe and iron ore pellets in North America, transportation services (railroad and barge operations), real estate operations, and engineering and consulting services in North America.

U.S. Steel (NYSE:X) has potential upside of 44.5% based on a current price of $17.35 and analysts' consensus price target of $25.06. The stock should run into initial resistance at its 50-day moving average (MA) of $22.71 and subsequent resistance at its 200-day MA of $26.60.

Over the past year, U.S. Steelhas traded in a range of $16.81 to $46.55 and are now at $17.35. The 200-day and 50-day moving averages have moved 1.11% lower and 1.64% lower over the past week, respectively.

By Adrienne Chilton
achilton@fnno.com

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