United States Steel Corporation X shares are trading higher by $2.85 (8 percent) at $34.18 in Thursday's session. One catalyst for the rebound is an upgrade from Bank Of America from Neutral to Buy.
The move has aided the issue in reversing all of Wednesday's decline ($32.71 to $31.33) and then some following disappointment in the company's Q4 report.
All is forgotten for now as the issue immediately bottomed at its higher opening tick of $31.97 and began to move higher. It has eclipsed Wednesday's high of $34.00, reaching $34.48 before falling back to the lower $34.00 handle.
If the rally continues, there may be additional resistance at its January 24 high of $34.94.
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