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US Steel (X, $20.49) got rating downgrade at Goldman Sachs
U.S. Steel Corp. shares got a rating downgrade from analysts at Goldman Sachs, amid price target cuts on major steel producers’ shares and an expected market correction of steel prices.
Goldman Sachs analyst Emily Chieng cut her rating on U.S. Steel’s stock to "sell" from "neutral', while also reducing the price target to $21 a share. This was done in correspondence to a sector update that included price target cuts for the shares of Steel Dynamics, Nucor and Cleveland-Cliffs CLF.
Hot-rolled coil steel (HRC) prices are around 140% higher than their historical levels this year, driven by stronger industrial demand and a "lagging supply response," Chieng noted.
"We believe the market may be anticipating a correction in the coming months as additional import volumes arrive and new capacity begin operations," Chieng wrote. "That said, we believe there are opportunities to be more tactically positioned among the domestic steel participants, and we update our views to reflect a slightly more defensive positioning among the flat steel producers."
X in downward trend: price dove below 50-day moving average on April 26, 2022
X moved below its 50-day Moving Average on April 26, 2022 date and that indicates a change from an upward trend to a downward trend. In 31 of 36 similar past instances, the stock price decreased further within the following month. The odds of a continued downward trend are 86%.
Current price $24.43 crossed the support line at $26.60 and is trading between $26.60 support and $20.13 support lines. Throughout the month of 04/12/22 - 05/13/22, the price experienced a -33% Downtrend. During the week of 05/06/22 - 05/13/22, the stock fell -10%.
The Momentum Indicator moved below the 0 level on April 21, 2022. You may want to consider selling the stock, shorting the stock, or exploring put options on X as a result. In 57 of 76 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 75%.
The 10-day Moving Average for X crossed bearishly below the 50-day moving average on May 03, 2022. This indicates that the trend has shifted lower and could be considered a sell signal. In 12 of 16 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are 75%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where X declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 79%.
The Aroon Indicator for X entered a downward trend on May 13, 2022. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The RSI Indicator shows that the ticker has stayed in the oversold zone for 6 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an Uptrend is expected.
The Stochastic Indicator shows that the ticker has stayed in the oversold zone for 15 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
Following a +2.03% 3-day Advance, the price is estimated to grow further. Considering data from situations where X advanced for three days, in 247 of 305 cases, the price rose further within the following month. The odds of a continued upward trend are 81%.
X may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Tickeron has a negative outlook on this ticker and predicts a further decline by more than 4.00% within the next month with a likelihood of 72%. During the last month, the daily ratio of advancing to declining volumes was 1 to 2.27.
The Tickeron Profit vs. Risk Rating rating for this company is 100 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. X’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 73, placing this stock worse than average.
The Tickeron PE Growth Rating for this company is 97 (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Price Growth Rating for this company is 63 (best 1 - 100 worst), indicating fairly steady price growth. X’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of 14 (best 1 - 100 worst) indicates that the company is seriously undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (0.656) is normal, around the industry mean (1.586). P/E Ratio (1.390) is within average values for comparable stocks, (15.853). Dividend Yield (0.007) settles around the average of (0.064) among similar stocks. P/S Ratio (0.322) is also within normal values, averaging (2.005).
The Tickeron SMR rating for this company is 8 (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The steel industry includes manufacturers of steel and steel-related products. Companies use iron ore and scrap steel to produce steel. The industry also includes companies involved in mining and marketing of steel products. Along with serving some of the domestic markets, U.S. steel output has, over the years, been used by international economies as well. Competition from imported steel has also increased over time. The industry could be susceptible to business cycles, since the element is an important input in industrial production. Some of the globally-renowned steel behemoths include Nucor Corporation, Vale, and ArcelorMittal SA.
The average market capitalization across the Steel Industry is 3.7B. The market cap for tickers in the group ranges from 107K to 32.9B. NUE holds the highest valuation in this group at 32.9B. The lowest valued company is GCIN at 107K.
The average weekly price growth across all stocks in the Steel Industry was -2.43%. For the same Industry, the average monthly price growth was -7.8%, and the average quarterly price growth was -4.9%. TYEKF experienced the highest price growth at 15.2%, while RYI experienced the biggest fall at -20.08%.
- 4/22/22 6:40 AM: United States Steel (X, $34.67) was a top loser this week, declining -6.4%
- 2/16/22 6:13 AM: United States Steel (X, $24.79) was a top weekly gainer, with a +6.9% jump. Expect an Uptrend continuation
The average weekly volume growth across all stocks in the Steel Industry was -6.03%. For the same stocks of the Industry, the average monthly volume growth was 39.2% and the average quarterly volume growth was 23.34%
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Stocks in the group have a Negative Outlook today, backed by the Aroon Indicator. Tickeron has a negative outlook on this group and predicts a further decline by more than 4.00% within the next month with a likelihood of 47%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.79.
2 stocks in the group of tickers confirmed the negative outlook based on the MA200MA50 indicator with average odds of 75%.
The most notable companies in this group are Nucor Corp (NYSE:NUE), ArcelorMittal (NYSE:MT), Cleveland-Cliffs (NYSE:CLF), United States Steel Corp (NYSE:X).
The average market capitalization across the group is 5B. The market cap for tickers in the group ranges from 0 to 32.9B. NUE holds the highest valuation in this group at 32.9B. The lowest valued company is MAANF at 0.
The average weekly price growth across all stocks in the group was -3.45%. For the same group, the average monthly price growth was -12.42%, and the average quarterly price growth was -2.97%. TYEKF experienced the highest price growth at 15.2%, while RYI experienced the biggest fall at -20.08%.
- 5/12/22 5:38 AM: ZK International Group (ZKIN, $0.96) is a top weekly loser for penny stocks, falling -15.04%
- 5/10/22 5:36 AM: Steel Dynamics (STLD, $77.22) was a top loser this week, declining -7.66%. Expect a Downtrend reversal
- 5/10/22 5:36 AM: Allegheny Technologies (ATI, $25.61) was a top loser this week, declining -5.74%. Expect a Downtrend reversal
The average weekly volume growth across all stocks in the group was 218.15%. For the same stocks of the group, the average monthly volume growth was 144.05% and the average quarterly volume growth was 160.75%
- 3/19/22 4:44 AM: The volume for Commercial Metals stock increased for one day, resulting in a record-breaking daily growth of 228% of the 65-Day Volume Moving Average
- 2/26/22 6:51 AM: The volume for Mechel PAO American Depository Shares each representing two stock increased for two consecutive days, resulting in a record-breaking daily growth of 343% of the 65-Day Volume Moving Average
- 2/25/22 6:56 AM: The volume for Mechel PAO American Depository Shares each representing two stock increased for one day, resulting in a record-breaking daily growth of 526% of the 65-Day Volume Moving Average
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
The most notable companies in this group are Nucor Corp (NYSE:NUE), ArcelorMittal (NYSE:MT), Cleveland-Cliffs (NYSE:CLF), United States Steel Corp (NYSE:X), Arconic Corp (NYSE:ARNC).
The steel industry includes manufacturers of steel and steel-related products. Companies use iron ore and scrap steel to produce steel. The industry also includes companies involved in mining and marketing of steel products. Along with serving some of the domestic markets, U.S. steel output has, over the years, been used by international economies as well. Competition from imported steel has also increased over time. The industry could be susceptible to business cycles, since the element is an important input in industrial production. Some of the globally-renowned steel behemoths include Nucor Corporation, Vale, and ArcelorMittal SA.
The average market capitalization across the Steel Industry is 3.7B. The market cap for tickers in the group ranges from 107K to 32.9B. NUE holds the highest valuation in this group at 32.9B. The lowest valued company is GCIN at 107K.
The average weekly price growth across all stocks in the Steel Industry was -2.43%. For the same Industry, the average monthly price growth was -7.8%, and the average quarterly price growth was -4.9%. TYEKF experienced the highest price growth at 15.2%, while RYI experienced the biggest fall at -20.08%.
- 5/12/22 5:38 AM: ZK International Group (ZKIN, $0.96) is a top weekly loser for penny stocks, falling -15.04%
- 5/10/22 5:36 AM: Steel Dynamics (STLD, $77.22) was a top loser this week, declining -7.66%. Expect a Downtrend reversal
- 5/10/22 5:36 AM: Allegheny Technologies (ATI, $25.61) was a top loser this week, declining -5.74%. Expect a Downtrend reversal
The average weekly volume growth across all stocks in the Steel Industry was -6.03%. For the same stocks of the Industry, the average monthly volume growth was 39.2% and the average quarterly volume growth was 23.34%
- 3/19/22 4:44 AM: The volume for Commercial Metals stock increased for one day, resulting in a record-breaking daily growth of 228% of the 65-Day Volume Moving Average
- 2/26/22 6:51 AM: The volume for Mechel PAO American Depository Shares each representing two stock increased for two consecutive days, resulting in a record-breaking daily growth of 343% of the 65-Day Volume Moving Average
- 2/25/22 6:56 AM: The volume for Mechel PAO American Depository Shares each representing two stock increased for one day, resulting in a record-breaking daily growth of 526% of the 65-Day Volume Moving Average
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
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