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U.S. Steel (X) hasn’t had much to brag about from a performance perspective over the past 4 years! Of late its been a different story!
Recently Steel broke above a 2-year falling resistance line and came back to test the old line as support at (2). The action of late reflects how “Hot” Steel has been as it has outperformed the S&P 500 by 15% in the last 30 days!
Could U.S. Steel be sending a positive message about the economy? In my opinion it is too early to tell. The breakout is a positive for the stock at this time though!