Market Overview

US Steel Rebounds From Morning Low

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United States Steel Corporation (NYSE: X) shares are trading lower by $1.15 $31.67 in Monday's session.

The stock is being dragged along with many other "Trump stocks" as the president failed his first big legislative test on Friday by not being able to replace the Affordable Care Act. Some might now doubt his ability to implement some of his other campaign promises, such as infrastructure upgrades that would be a benefit to the steel industry.

After a lower open, US Steel bottomed in the first minute of the session at $30.73 and began to rebound. That low coincides with its February 1 low of $30.71. Since making that low, it has continued to make new highs for the session, with the current one standing at $31.82.

In order to fill the void in price and reach the lower-end of Friday's session, it would need to reach $32.38.

Posted-In: Technicals Intraday Update Movers Trading Ideas

 

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