$X CHANNEL BREAKOUT PATTERN

$X CHANNEL BREAKOUT PATTERN

 

US STEEL [$X] has been consolidating into a nice base for last 40 trading days. While consolidating its trading range narrowed and formed a channel pattern. In the image above channel has been shown bounded by blue parallel trendlines. Highlighted area shows it breaking out of this pattern. I expect $X to reach 45-48 target zone.