U.S. Steel stock rose 6% after Credit Suisse upgrade

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U.S. Steel Corp (X.US) despite broad market sell-off, shares of steel producer surged more than 6% after Credit Suisse upgraded the stock to outperform from underperform, saying that the surge in prices for steel made it clear that the industry was in a “super cycle.” Credit Suisse expects that the U.S. Steel stock will rise 42% from its Monday closing price.

U.S. Steel Corp (X.US) stock broke above the upper limit of the triangle pattern and rose sharply during today's session. Should upbeat sentiment prevail, resistance at 27.43 may be at risk. On the other hand, if sellers will manage to regain control, then nearest support to watch liest at $26.28. Source: xStation5

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