Pascal
03-01-2015, 08:57 AM
US Steel (X) could be an interesting short. The stock is bouncing back on a weak EV pattern.
28708
The pyramid data shows a very stable Supply level. This is something to investigate.
28707
We can see that the stats for shorting a bounce look good.
28709
It is interesting to see the shorting range is wide, because the downtrend is strong.
28710
Below is the SUpply Figure for US Steel. Normally, since we are in a stable supply zone, shorting should not work well, except if this indicators crosses above the 10% level, at the left side of the Figure.
This means a break bellow 23.5
28711
With the Breakout Calculator, this is easy to test. We can see below that a break down on Volume (BDV) below that level shows slightly positive stats.
28712
Conclusions: better short a bounce.
28708
The pyramid data shows a very stable Supply level. This is something to investigate.
28707
We can see that the stats for shorting a bounce look good.
28709
It is interesting to see the shorting range is wide, because the downtrend is strong.
28710
Below is the SUpply Figure for US Steel. Normally, since we are in a stable supply zone, shorting should not work well, except if this indicators crosses above the 10% level, at the left side of the Figure.
This means a break bellow 23.5
28711
With the Breakout Calculator, this is easy to test. We can see below that a break down on Volume (BDV) below that level shows slightly positive stats.
28712
Conclusions: better short a bounce.