Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. United States Steel Corp. shares valued at $131,250 were purchased by Jaycox Kenneth E on Sep 18 ’24. At $37.50 per share, Jaycox Kenneth E acquired 3,500 shares.
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Also, BURRITT DAVID B sold 252,458 shares, netting a total of over 12,626,182 in proceeds. Following the sale of shares at $50.01 each, the insider now holds 581,609 shares.
Before that, Brown Daniel R had sold 5,000 shares from its account. In a trade valued at $248,850, the SVP Adv. Tech. Steelmaking traded United States Steel Corp. shares for $49.77 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $3.04 million.
As published in a research note from JP Morgan on September 09, 2024, United States Steel Corp. [X] has been rated up from a Neutral to an Overweight and the price target has been revised to $42 from $40. Analysts at Exane BNP Paribas upgraded the stock from ‘”a Neutral”‘ to ‘”an Outperform”‘ outlook in a report released in early September. As of June 26, 2024, BMO Capital Markets has increased its “Market perform” rating to a “an Outperform” for X. Earlier on May 20, 2024, Jefferies initiated its rating. Their recommendation was “a Buy” for X stock.
Analyzing X Stock Performance
During the last five days, there has been a drop of approximately -3.29%. Over the course of the year, United States Steel Corp. shares have dropped approximately -28.20%. Shares of the company reached a 52-week high of $48.85 on 01/24/24 and a 52-week low of $26.92 on 09/04/24. A 50-day SMA is recorded $37.69, while a 200-day SMA reached $40.86. Nevertheless, trading volume fell to 1.77 million shares from 1.93 million shares the previous day.
Support And Resistance Levels for United States Steel Corp. (X)
According to the 24-hour chart, there is a support level at 34.45, which, if violated, would cause prices to drop to 33.98. In the upper region, resistance lies at 35.25. The next price resistance is at 35.58. RSI (Relative Strength Index) is 44.04 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.77, which suggests the price will decrease in the coming days. Percent R is at 87.30%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
