United

Steel

<ul class="list-ic vertical">
 <li><span>1</span> <a>X stock price is above the key moving averages.</a></li>
 <li><span>2</span> <a>United States Steel stock witnessing bearishness on the daily chart frame.</a></li>
</ul>
<p>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.&nbsp;</p>
<p>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.</p>
<p>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.</p>
<p>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.</p>
<p>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.</p>
<h2 class="wp-block-heading" id="strong-technical-analysis-of-x-stock-price-in-1-d-time-frame-strong"><strong>Technical Analysis of X Stock Price in 1-D Time Frame</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh5.googleusercontent.com/3I-elfsyyNyu_oUvGlrRMATq4kyWY3d7szugDxDh9xtJkz0An3IEyg6w2-ATecPPHwE4r87eMHlZwxFeG4cio1VZzdqK42x8hof6aFEseQhI3nCmdwEmgkJlte1i2fR8MK4-XMkgyFxd04HNY80cY3M" alt="X Stock: Will United States Steel Stock Break Above $33.69 Level?">
  <figcaption class="wp-element-caption">
   Source: X.1D.NASDAQ by TradingView
  </figcaption>
 </figure>
</div>
<p>X stock (NASDAQ: United States Steel) is above the 50 and 200-day daily moving averages (DMAs), which are upholding the price trend.&nbsp;</p>
<p>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.</p>
<p>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 <a href="https://www.thecoinrepublic.com/2023/08/14/us-steel-stock-up-21-x-stock-prepares-to-hit-a-52-week-high/" rel="noopener noreferrer nofollow">stock</a> price.</p>
<h2 class="wp-block-heading" id="strong-weekly-time-horizon-analysis-strong"><strong>Weekly-Time Horizon Analysis</strong></h2>
<p>The weekly charts of X stock reveal that the buyers have been dominant. The stock has been on an upward trend, as it broke above the key EMAs. Technical indicators confirm the bearish sentiment, as the RSI is near the overbought zone at 63 and the MACD has formed green bars and a bullish crossover. These signals indicate that the stock may face more upside moves in the coming weeks.</p>
<h3 class="wp-block-heading" id="strong-summary-strong"><strong>Summary</strong></h3>
<p>X stock technical oscillators support the mild bearish trend. The MACD, RSI, and EMAs emphasize negative signs and imply a small correction in the United States Steel stock price. X price action suggests that the investors and traders are bearish on the 1-day time frame. The price action reflects a bearish perspective at the moment.</p>
<h3 class="wp-block-heading" id="strong-technical-levels-strong"><strong>Technical Levels</strong></h3>
<p>Support Levels: $30.92 and $28.94</p>
<p>Resistance Levels: $33.69 and $35.00</p>
<h3 class="wp-block-heading" id="strong-disclaimer-strong"><strong>Disclaimer</strong></h3>
<p>This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.</p>

X Stock: Will United States Steel Stock Break Above $33.69 Level?

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Thecoinrepublic.com

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