Today, shares of U.S. Steel (NYSE:X) have fallen below their 10-day MA of $24.15 on a volume of 1.9 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.
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.
Over the past year, U.S. Steel has traded in a range of $17.67 to $32.52 and is now at $23.78, 35% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.
U.S. Steel (NYSE:X) has potential upside of 2.9% based on a current price of $23.78 and analysts' consensus price target of $24.48. U.S. Steel shares have support at the 200-day moving average (MA) of $22.67 and additional support at the 50-day MA of $22.00.
