US Steel Falls to Oversold on Downgrade

US Steel (NYSE: X) fell 3.36% yesterday after being downgraded to “hold” from “buy” by analysts at Keybanc. This was the second big down day for X in less than a week. The stock fell 7.03% last Wednesday after the Commerce Department announced it would not impose tariffs on steel from South Korea. Tariffs would have benefitted X by making South Korean imports more expensive.

The string of bad news has pushed X into oversold territory with a PowerRatings of 8. The stock is oversold on a number of other indicators that can be found at TradingMarkets Live Screener. ConnorsRSI, for example, confirms that X is oversold.

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All data is as of the end of day on 2/24/2014.