Shares of U.S. Steel (X) opened sharply lower today, hitting a double bottom and multi-year low. However, in dramatic fashion, U.S. Steel started to climb, quickly turning positive. This price action shows major accumulation and buying pressure. The technical double bottom and oversold nature of the equity add fuel to this fire. It is very possible, U.S. Steel put in a major pivot low, possibly a low for the year. I am looking to buy this on any pullback under $10.75. Upside near term is $12.50, then as high as $16.00.

Gareth Soloway
InTheMoneyStocks