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3 Steel Stocks Boosted by Trump

Reports that President Trump is looking at imposing tariffs on imported steel have boosted these steel stocks

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Steel Stocks Boosted by Trump: United States Steel Corporation (X)

Steel Stocks Boosted by Trump: United States Steel Corporation (X)

United States Steel Corporation (NYSE:X) shares are rising up and out of a three-month consolidation range and are pushing further away from their 50-day moving average. Watch for a closure of the post-earnings gap from late April ahead of a push to the 200-day moving average near $28 — which would be worth a near 30% gain for X from here.

The company will next report results on July 25 after the close. Analysts are looking for earnings of 49 cents per share on revenues of $3.2 billion. Cowen analysts note that X is has underperformed peers like Nucor Corporation (NYSE:NUE) in recent months on increased exposure to rolled steel and raw materials; but could be poised for a near-term opportunity now.

Anthony Mirhaydari is founder of the Edge and Edge Pro investment advisory newsletters. Free two- and four-week trial offers have been extended to InvestorPlace readers.

Article printed from InvestorPlace Media, http://investorplace.com/2017/06/3-steel-stocks-boosted-by-trump-x-aks-clf/.

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