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US Steel (X) - One of the Best Swing Plays Out There

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January 25, 2012 – Comments (0) | RELATED TICKERS: X

If the market stays propped up, and we dont' see some selling start to creep in, than you have to give some thought to trading US Steel (X), because that stock has one incredible ascending triangle pattern that it is breaking out of to the upside. 

Target wise, I would think that a breakout would easily take you to $31.50-$32. But I can't take credit for finding this trade setup, (or else I would) because Fuinhaz in our chat-room (free) found it, and a number of folks have already jumped in and made some descent profits off of it already. 

If you can, I'd wait until abou $29.26 to jump in, which we may very well get heading into the FOMC Statement release at 12:30pm (eastern).

Here's the chart on X.

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