With the rumor of a $1 Trillion US infrastructure bill to help put Americans back to work and revitalize the US economy, I believe we will see a lot of money getting poured into materials.
"MTL engages in mining, steel, and power businesses in Russia, Asia, Europe, the Commonwealth of Independent States, the Middle East, the United States, and internationally. Its Mining segment produces and sells coking, metallurgical, and steam coal; coke; chemical products, including coal tar, coal benzene, and other compounds; and iron ore and iron ore concentrates. The company's Steel segment produces and sells semi-finished steel products, long steel products, and carbon and stainless flat products; ferrosilicon products; and pig iron, as well as metal products, including wire products, stampings and forgings, structural shapes, beams, and rails. Its Power segment generates and supplies electricity, heat energy, and other power resources to third parties."
Will be watching this at open for a break of $2 and confirmation of new support.
Will get in as close to $2 as I can after support confirmation.
Stop at $1.72
PT1 $2.23
PT2 $2.77
PT3 $3.00
I plan to scale out at these 3 price points and scale in on the dips.
"MTL engages in mining, steel, and power businesses in Russia, Asia, Europe, the Commonwealth of Independent States, the Middle East, the United States, and internationally. Its Mining segment produces and sells coking, metallurgical, and steam coal; coke; chemical products, including coal tar, coal benzene, and other compounds; and iron ore and iron ore concentrates. The company's Steel segment produces and sells semi-finished steel products, long steel products, and carbon and stainless flat products; ferrosilicon products; and pig iron, as well as metal products, including wire products, stampings and forgings, structural shapes, beams, and rails. Its Power segment generates and supplies electricity, heat energy, and other power resources to third parties."
Will be watching this at open for a break of $2 and confirmation of new support.
Will get in as close to $2 as I can after support confirmation.
Stop at $1.72
PT1 $2.23
PT2 $2.77
PT3 $3.00
I plan to scale out at these 3 price points and scale in on the dips.
PTs in green
Break and Confirming support in red
Yellow at $1.97 will be my new stop after break of PT1