Here are a few companies reporting earnings after the bell today that either have the potential to move the broad market tomorrow and/or might present a potential trading opportunity: AMD (Advance Micro Devices): One of the recent high-flying semiconductor & GPU manufacturers, currently poised to break above or below a triangle/consolidation pattern on the daily chart below. AMD daily July 25th X (US Steel): Parked at the bottom of a triple-gap resistance + downtrend line resistance. Any upside gap tomorrow would trigger a breakout above these intersecting resistance levels with the top of the most recent gap around 27.70 [...]
This video starts with analysis on gold, silver, platinum & GDX, followed by coverage of the US stock market (via SPY, QQQ & IWM) various sectors & some of the recent trade ideas posted on Right Side Of The Chart.
It appears that the steel sector & various individual steel stocks are setting up as potentially lucrative & objective swing trading opportunities. The following video begins with an overview of the steel sector followed by coverage of the following steel stocks: MT, STLD, GGB, X, AKS, WOR, FRD, GSIH & SLX (Steel ETF).
A look at the steel sector including the charts of many individual steel stocks with support, resistance & price target levels.
The X (U.S. Steel Corp) Long-Term Trade has now hit the final target, T4 at 40.50, for a gain of 127% since entry. X is a good example of the difference between the regular Long Trade Ideas and the Long-term Trade Idea. As stated back in the original post on May 3, 2013 when X was added as an Active Long-term Trade: "... I am adding X as a Long-Term Trade Idea. The Long-Term Trades category included trades that have relative long expected holding periods (measured in months or even years) and typically have price targets well into the double-digits. Often [...]
The X (US Steel Corp) Active Long-term Trade has hit the third target (T3 at 32.25) for an 80.9% gain from entry. (The actual total return is considerably higher as the above average dividend yield has significantly reduced the cost basis on this trade since inception). T3 was hit on Wednesday on a sizable gap. As prices closed well over a point above the T3 level today, consider booking partial or full profits and/or raising stops according to your trading plan, on Monday if you have not done so already. Also note from the updated weekly chart below that X has [...]
The X (US Steel) Long-Term Trade Idea has now cleared the T2 level while up over 53% from entry. The long-term charts still look constructive although the stock is becoming quite extended (overbought) & as such, the risks of a sudden pullback before T3 is hit are starting to rise. Make sure to adjust stops and/or take book profits according to your trading plan.