U.S. Steel (X) facing resistance ahead of...

Rick Pendergraft

published in Blogs

Jul 26, 2019

U.S. Steel (X) facing resistance ahead of earnings report

U.S. Steel (NYSE: X) is scheduled to report second quarter earnings results after the closing bell on August 1. Analysts expect the company to report earnings of $0.39 per share after reporting $1.46 in the second quarter of 2018. The decline in earnings has caused a sharp decline in the stock over the past year.

If we look at the weekly chart, we see that the stock peaked up around $47.50 in February 2018. Since then the stock has moved sharply lower. If we connect the high from February with the high from last July, it creates the upper rail of a trend channel and the stock is approaching the upper rail at this time.

We see that the weekly overbought/oversold indicators haven’t been in overbought territory since the beginning of 2018. The indicators are approaching the same levels they hit in February before the stock rolled over and fell another 50%.

The Tickeron Trend Prediction Engine generated a bearish signal for U.S. Steel on July 23 and that signal calls for a drop of at least 4% within the next month. The signal showed a confidence level of 68% and past predictions for the stock have been successful 89% of the time.

In addition to the expected decline in earnings, the company’s profit margin is well below average at 6.7%. Given these fundamental statistics and the downward trend in the stock, it will be difficult for U.S. Steel to move higher in the coming months.

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Sergey Savastiouk

published in Blogs

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If the stock market were Major League Baseball, hedge funds and institutional investors would be the pros on championship teams while everyday self-directed investors (SDIs) are the benchwarmers in the minors.It’s how they get ahead, and it’s why 90% of SDIs lose money trying to play (invest and trade) in the major leagues. The 4 tricks we discuss below are rooted in one common theme: they all use Artificial Intelligence and algorithms to generate data and ideas.

John Jacques

published in Blogs

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Sergey Savastiouk

published in Blogs

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Edward Flores

published in Blogs

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Alla Petriaieva

published in Blogs

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Sergey Savastiouk

published in Blogs

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Abhoy Sarkar

published in Blogs

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Rick Pendergraft

published in Blogs

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Sergey Savastiouk

published in Blogs

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Penny stocks have long been marginalized within the professional investment community, oftentimes being painted with a broad brush of simply being “too risky.” Leonardo DiCaprio’s depiction of the penny stock peddling conman, Jordan Belfort, in the Wolf of Wall Street certainly didn’t help.Here are four reasons to start trading them now. Reason #1: Let’s State the Obvious -- Penny Stocks are Cheap A single share of Apple Inc. costs over $350.

Abhoy Sarkar

published in Blogs

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US unemployment rate jumps to 14.7%, the highest in series history

The U.S. economy’s employment fell by -20.5 million in April. The coronavirus crisis led to unemployment rate soaring to 14.7% in the U.S, the highest rate in the Bureau of Labor Statistics-tracked series history that goes back to 1948. However, the figures were better compared to several economists'/analysts' forecasts of 22 million job losses and 16% unemployment rate. Another unemployment measure that includes those who have stopped looking for work as well as those holding part-time jobs for economic reasons also touched an all-time high of 22.8%.