As a chart watcher and a technical trader of price, pattern and time, I often scope out daily charts for swing trade setups. Today my attention keeps getting drawn back to two charts that have created beautiful in spirit of bull flags. This pattern is bullish and generally plays out to the upside a very high percentage of the time.
United States Steel Corporation (NYSE:X) and AK Steel Holding Corporation (NYSE:AKS) both have this bull flag pattern and should be watched in the coming days for a possible upside move. The market has taken a hit in the days and U.S Steel along with AK Steel have pulled back but in a very minor way. This shows relative strength in relation to the market. Refer to the chart below. To get more insight, research, guidance, education and swing trades, join the Research Center.
Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com
