US Steel (X) NewsBite - X Hits 52-Week High Ahead of the New Year
Posted: Monday, December 28, 2009 10:04 AM EDT
By: Market Intelligence Center Staff
US Steel (NYSE: X) hit a new 52-Week high of $58.19 so far today. Shares of X are rising with other stocks this morning as investors cheer reports that retail sales rose this holiday season. Higher consumer spending could heat up the economic recovery, which would lift X shares in the new year. Currently the stock is up $.87 (1.53%) to $57.73 on 2,054,991 shares traded. Today's high is up $41.07 from a 52-Week Low of $16.66. US Steel stock has been showing support around $52.37 and resistance in the $56.43 range. Technical indicators for the stock are neutral and S&P gives X a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on X the stock seems like it could be a candidate for a February out-of-the-money bull-put credit spread below the 50 range. [ABR-Seven Summits Strategic Investments NewsBite]
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