Steel

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>X stock price slid 4.82% in the last trading session and is currently trading at $24.49.</a> </li> 
 <li> <span>2</span> <a> United States Steel share price (NYSE: X) is good value based on its Price-To-Earnings Ratio (4.1x) compared to the peer average (12.4x). </a> </li> 
</ul> 
<p>United States Steel Corporation (NYSE: X) makes and sells flat and tubular steel products mainly in North America and Europe. It has four segments: Flat-Rolled, Mini Mill, USSE, and Tubular. The Flat-Rolled segment provides slabs, plates, sheets, and tin products, as well as iron ore and coke.</p> 
<p>The United States Steel share price currently trades at $24.49, declining 4.82% in the last trading session. X stock holds a market cap of 6.3 Billion. It has a total of 222.9 Million shares outstanding. The PE ratio for the stock is 4.1. The price-to-sales ratio of the stock is 0.27.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/1jnHOL3i_Mh0s6fl_Uh6cxqlHxquekEsi1LFebuEqBi_NONvB0iY3prP2dHkB-SXE-Fc-9UEHooGE8CGOPzsGkzhpeUMfsRoZtTPVs7o469-p197s4pYSw9VcGKytuj6kvm0rZX5hgPChOLlQEIvkHc" alt="X Stock Price Forecast: Can X Stock Fall Below $20 Mark?"> 
 </figure> 
</div> 
<p>X stock derivatives data states that the current implied volatility in the market is 38.59% with an increment of 1.22% in the last trading session. It has a total of 388.5K open interest contracts as of now. The PUT/CALL ratio is 1.63 indicating a possible bearish sentiment may prevail as PCR is topping out.</p> 
<h2 class="wp-block-heading" id="strong-united-states-steel-stock-price-prediction-using-price-action-strategy-strong"><strong>United States Steel Stock Price Prediction Using Price Action Strategy</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/KaphBUld-Yffw9saM177DBbdN77WRFa21NOrTj9_VfVrIWBMLIOiOWgTX7wPcMk5VURfgT_gQLjBuuZRcbCSFoKc1q49ww8EphzX6fQ-quhokdQ6RHr58uFIM-ojP3HTaRa2ZmAO1bqaLhiumbGmtwY" alt="X Stock Price Forecast: Can X Stock Fall Below $20 Mark?"> 
  <figcaption class="wp-element-caption">
    Source: United States Steel. 1D. NYSE By <a href="https://www.tradingview.com/x/t5P7Ds3B/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>X share <a href="https://www.thecoinrepublic.com/2023/08/03/verizon-stock-price-prediction-why-is-vz-falling-after-good-q2/" target="_blank" rel="noopener noreferrer nofollow">price </a>analysis reveals that the price had been in a correction phase after suffering rejection from the supply zone in March 2023. The price declined forming lower highs and lower lows and hit a low of 20.55 in May 2023.&nbsp;</p> 
<p>The price headed upwards forming higher lows and higher highs. Also, the price is moving in a channel pattern popularly known as a bearish flag pattern.</p> 
<p>Recently, the disclosure of quarterly results led to some profit booking but the price could not break the channel pattern and took support from the lower trendline of the channel and sustained in the channel. Until the price remains in the channel it may continue its ongoing trend and surge higher.<br><br>However, if the price breaks below the lower trendline of the channel then it may show some bearishness and the price may decline to lower demand zones.</p> 
<h2 class="wp-block-heading" id="strong-x-share-price-forecast-from-indicators-point-of-view-strong"><strong>X Share Price Forecast from Indicators’ point of view</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/mYp0GbaPKEHBtrBV8ww4XpoMIqyChYbQR3vmXP-LFvGwONdG1HQ16tUg1wgJSmJiEnuNn9uTa5UTK7XUkzvASNEO4tzk0c7nwoc7gghgvuPjwZEEoviTDETkFAyir4wbnYkUin6RKkoSkXTHJzFYVng" alt="X Stock Price Forecast: Can X Stock Fall Below $20 Mark?"> 
  <figcaption class="wp-element-caption">
    Source: United States Steel. 1D. NYSE By <a href="https://www.tradingview.com/x/t5P7Ds3B/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>As per the EMA analysis, the X stock price tried to sustain above the 200 EMA but was not able to close above it. However, the price is still above the 50 EMA indicating short-term buyers positive sentiment in the market.</p> 
<p>At the time of publishing, the RSI value of the X share price is 46.72 and that of the SMA line is 59.19. A divergence is observed in RSI indicating a possible correction in the stock.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>X stock price prediction shows that the price has surged nearly 13% in the past 2 months and formed a bearish flag channel pattern. Recently, the price tried to sustain above 200 EMA but failed and made a bearish closing. Now, Until the price remains in the channel, it may try to maintain its ongoing trend and get support from the lower levels.</p> 
<p>However, if the price breaks and sustains below the channel then sellers may try to dominate and drag the price may decline to its nearest demand zone.</p> 
<h5 class="wp-block-heading"><strong>Technical Levels</strong></h5> 
<ul> 
 <li>Support levels: $22.13 and $20.55.</li> 
 <li>Resistance levels: $26.18 and $27.51.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

X Stock Price Forecast: Can X Stock Fall Below $20 Mark?

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Thecoinrepublic.com

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