Wednesday 8 July 2009

US Steel

Time for another quadruple bottom stock. This time it is USX-US Steel Group breaking through its bottom on the point-and-figure chart.

Of course we look for confirmation on the renko charts. While the 60-minutes chart broke down already some days ago, we observe that the daily renko chart can follow suit. The Commodity Channel Index turned already and the stop-and-reverse indicator can flip sides any moment.
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