United States Steel Corporation (X)

[tootalljones]

Rule 5 The value of technical analysis, is there any? X's current chart can be found here on Stock Charts. https://stockcharts.com/h-sc/ui

Pump in the 2 year chart and you will see that X has been in a trading range now for almost 16 months. I think we are gonna break out of this range to the upside, based on obvious X fundamentals and more importantly the velocity of this current move upwards. Just hang onto a stock with a tremendous profile (great valuation numbers), and sooner or later, after it churns, and when it gets ready, it will generally go up.

Is tech analysis of any value? Most of the stuff is largely imaginary, but not all of it completely. Somewhat, in breakouts through longer term resistance, and breakdowns through support, it can give you a little more conviction, and under my other rule, which is to take big swings, will permit buying more of the stock in question (or immediately, and i mean IMMEDIATELY dumping all of it in the event of a breakdown through resistance).
Following these rules can make you a lot of money, and more importantly, save you from catastrophic loses. Rule 6: at all costs, avoid the catastrophic loss, i.e. getting fond of a stock, or in love, and following it down. Follow the rules at all time. Often they do not work, but much more often this simple rule 5 will give you a huge edge over time.