Thesis
Long US Steel
The name has been showing strength lately along with several other US Steel and infrastructure related names.
Confirmations:
1. Higher highs on Day chart
2. Higher high on Week chart
3. Above 8 Day EMA
4. Above 21 Day EMA
Contradictions:
1. The price is currently below resistance so this may be an obstacle to price moving higher. If the price breaks above resistance, expect the resistance line to become support during a move higher.
Trade:
Long $X
Related Trade:
Long $AKS
Long US Steel
The name has been showing strength lately along with several other US Steel and infrastructure related names.
Confirmations:
1. Higher highs on Day chart
2. Higher high on Week chart
3. Above 8 Day EMA
4. Above 21 Day EMA
Contradictions:
1. The price is currently below resistance so this may be an obstacle to price moving higher. If the price breaks above resistance, expect the resistance line to become support during a move higher.
Trade:
Long $X
Related Trade:
Long $AKS
