United States Steel formed a bullish harami today. Should tomorrow candle close above $59, this is a confirmation that the trend for X is long. Given the weak market condition today, the 2 upgrades by GOLDMAN SACHS and DAHLMAN did not help lift X much.
Expect more upgrades soon as X finally gets to realize its potential as a leading integrated steel provider while the other steel companies suffer from high iron ore charges.
X is a strong buy here. Profit target is $82.
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