US Steel (X)

Add a New Bears Reason Company: US Steel (X) Current price: Headline: (100 character max) Analysis: Cancel 57% agree 7 votes edit A slackening in domestic auto production will hurt steel makers Top Contributor: Scott Thorn | Created when NYSE:X was $111.63 | Edit | History Weakening production by the Big Three domestic auto makers (Ford, GM and Daimler Chrysler) is a concern for all U.S. steel suppliers. US Steel recently announced on November 13, 2008 that it would be laying off 3% of its employees in the US and Canada (675 people total). The company specifically cited a lack of demand for flat-rolled steel, which is used in auto production among other things. (100 character max) Cancel 33% agree 3 votes edit Steel prices could drop as China floods market with cheap still exports Created when NYSE:X was $111.63 | Edit | History Economic slowdown and steel production increases in China could cause steel prices worldwide to fall as the country becomes a net exporter of steel. (100 character max) Cancel 0% agree 2 votes edit Technical analysis suggests that the stock may have trouble going higher. Top Contributor: Yechiel Cashman | Created when NYSE:X was $186.88 | Edit | History The RSI (a measure of relative strength among other stocks) has hit a ceiling these past few days and hasn't trended above it, and the PVT seems to be guiding lower which suggests to me that institutional investors are selling shares of X, not buying more. I don't see any reason why absent a high volume breakout above $195, that this stock would be a good purchase. (100 character max) Cancel

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