The Chart of the Day belongs to the steel company United States Steel (X) . I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 8/15 the stock gained 11.05%.
United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through four segments: North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, strip mill plates, sheets, and tin mill products, as well as iron ore and coke. This segment serves customers in the service center, conversion, transportation, automotive, construction, container, appliance, and electrical markets. The Mini Mill segment provides hot-rolled, cold-rolled, and coated sheets and electrical products. This segment serves customers in the automotive, appliance, construction, container, transportation, and service center markets. The USSE segment provides slabs, strip mill plates, sheets, tin mill products, and spiral welded pipes. This segment serves customers in the construction, container, appliance and electrical, service center, conversion, oil, gas, and petrochemical markets. The Tubular segment offers seamless and electric resistance welded steel casing and tubing products, as well as standard and line pipe and mechanical tubing products primarily to customers in the oil, gas, and petrochemical markets. The company also engages in the real estate business. United States Steel Corporation was founded in 1901 and is headquartered in Pittsburgh, Pennsylvania.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:
- 100% technical buy signals
- 52.55+ Weighted Alpha
- 73.67% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50 and 100 day moving averages
- 17 new highs and up 10.98% in the last month
- Relative Strength Index 71.33%
- Technical support level at $33.23
- Recently traded at $33.57 with 50 day moving average of $30.40
Fundamental Factors:
- Market Cap $7.46 billion
- P/E 6.00
- Dividend yield .60%
- Revenue expected to decrease 14.10% this year and another 12.10% next year
- Earning estimated to decrease 58.60% this year, decrease again by 47.60% next year but increase at a compounded annual rate of 8.00% for the next 5 years
Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analyst gave 3 strong buy, 5 buy, 5 hold and 2 sell opinions on the stock
- Analysts' price targets are between $14.36 and $40.00 with a consensus of $29.14 for a loss of 13%
- The individual investors following the stock on Motley Fool voted 1,877 to 164 for the stock to beat the market with the more experienced investor voting 281 to 30 for the same result
- Value Line gives the stock a price target of $26 for a 20% loss
- CFRAs MarketScope rates the stock a 4 star buy with a price target of $35
- 76,390 investors monitor the stock on Seeking Alpha
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
