More Upside to Come - BAC and United States Steel

Click on chart to enlarge (Daily Chart BAC)

Click on chart to enlarge (Weekly Chart BAC)

Click on chart to enlarge (X)

United Steel - Breakout move imminent

The daily and weekly time frame of United Steel (X) looks like its storing power and ready to breakout anytime now. The move up should be powerful if these two bigger time frame investors stepped in to buy.

Click to enlarge - Weekly Chart (X)

Click to enlarge - Daily (X)

Bullish - Start of a new bull market ?

Stock markets in a bullish mood lead by the financials. If one see a bull market coming, one should open a long position and sit tight. Stocks are breaking out of bottom formation and even the much beaten down solar sector looked primed to move.

Click on chart to enlarge (BAC)

Click on chart to enlarge (YGE) 

Click on chart to enlarge (AA) 

United Steel (X) Leading The Charge

Happy New Year, folks!

United Steel (X) is leading the way for the basic materials sector. United Steel had broken out of a nice basing pattern formed over a few month and had also gap up above its horizontal resistance and is now nibbling on its current resistance at $28.50. A close above $28.50 would be extremely bullish for this stock.

Click on chart to enlarge (Daily Chart)

Click on chart to enlarge (Weekly Chart)

Putting In A Bottom?

AIG, Yingli Green Energy (YGE) and United Steel (X) looks to be putting in a bottom. Savvy investors/traders with the patience to wait should be coming in and putting their money on the sidelines to good use by now with the 3 stocks looking to be under accumulation.

Click on chart to enlarge (X)

 Click on chart to enlarge (AIG)

Click on chart to enlarge (YGE)

Trading United Steel (X) using Multiple Time Frames

Dear Readers, United Steel looks like the next big cap stock to make a huge move. All the 'stars and planets' (multiple time frames) are now in line for a huge move as the weekly traders stepped into gear. Let's take a look at the multiple time frames.

United Steel (X) Weekly

United Steel (X) Daily Chart - Looking at the market sentiment, what are the odds of X breaking higher above its 50day MA? Very high chance.

United Steel (X) 60-min Chart - Price action resting after breaking out of its 60-min trading range over a period of 3 weeks. A powerful move is imminent. A breakout buy!

United Steel (X) 15-min Chart - Lastly, if you are trading a smaller time frame such as the 15-min chart and your chart is showing you an enormous gain; hold on to your stock. Reason: A higher time frame trader might be coming in to push the prices even higher. Just look at all the above higher time frames which I have posted above and you'll understand.

 

Trade them well ! Have a great weekend.