United States Steel Corporation (U. S. Steel) is an integrated steel producer of flat-rolled and tubular products with major production operations in North America and Europe. U. S. Steel has annual raw steel production capability of 31.7 million net tons (tons) (24.3 million tons in North America and 7.4 million tons in Europe). It is engaged in other business activities consisting primarily of transportation services (railroad and barge operations) and real estate operations. It has three segments: Flat-rolled Products (Flat-rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular). All other U. S. Steel businesses not included in reportable segments are reflected in Other Businesses. These businesses include transportation services and real estate operations. On December 21, 2010, U. S. Steel sold the majority of the operating assets of Mobile River Terminal Company Inc. and certain assets of Warrior and Gulf Navigation Company.
The stock has been trading lower since early this year along with the steel industry, the US Steel Corporation poorly performed compared to its peers. The stock found a multi-year support at and around 2009 Feb lows $19, and bounced from that multi-year support line and is up 47% from October low. Volume also exploded last two days and it seems the under performing fund managers, or catch up funds got stock they can ride. Last few sessions the stock formed number of bullish signals including but not limited to falling wages, triangles, morning star, high volume and price appreciation. Another important bullish signal was today’s performance on 38.2% Fib-Retracement from 13-week low which was broken on strong volume at $27.33. The stock traded between $64.03 52 week high and $18.85 52 week low.
We see the 1st target easily achievable at $30.50 levels where 50% Fib-Retracement from 13-week low hit hit, and expect a pull back from there. The stock is trading below its 20-day exponential as well as its 50-day exponential moving average which is very pivotal levels to see the stock to get out of the bearish zone. Now as of today’s price close, the stock is below 13.27% to its 20-de ma. We strongly believe that the price will try to reclaim this level but may face brutal defense from the bears, and we care less, and we want to initiate the following trade based on the above technical reasons; If you are premium member long in here....If you want to see the details of this trade subscribe before mid night Sunday to get 40% discount click here
WOOW Trading 
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