United States Steel Corp ( X ) is flashing bullish signals, riding an 8.35% gain over the past five days and forming a Golden Cross, a technical indicator often linked to continued upside.

Shares now sit above their key moving averages, suggesting strong momentum as Wall Street weighs the company's earnings outlook and merger drama.

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X Stock: Golden Cross Fuels Bullish Momentum

X stock has decisively broken above its short- and long-term moving averages, reinforcing a bullish trend:

The stock trades at $41.06, well above its eight-day SMA (simple moving average) of $39.51, 20-day SMA of $38.42 and 50-day SMA of $37.56 – all flashing bullish signals.

Even its 200-day SMA of $37.40 is far behind, underscoring solid technical strength.

With this momentum, traders are watching whether X can break through resistance and extend gains.

Read Also: US Steel Faces Q1 Pressures, But Eyes Long-Term Gains From BR2 & Nippon Partnership

JPMorgan: Solid Foundation, But Merger Uncertainty Lingers

JPMorgan analyst Bill Peterson remains Overweight on X stock, with a $43 price target. The firm's Q1 EBITDA guidance of $125 million was in line with estimates and stronger than mini-mill rivals like Steel Dynamics Inc ( STLD ) and Nucor Corp ( NUE ) .

However, challenges remain, including lagged pricing impacts, European demand weakness and start-up costs for its BRS2 expansion.

While the Nippon Steel Corp ( NISTF ) merger remains uncertain, Peterson sees US Steel's valuation supported above $40 per share, suggesting any regulatory setback could create a dip-buying opportunity.

Billionaire Druckenmiller Bets Big On X Stock

Adding intrigue, hedge fund titan Stanley Druckenmiller has more than doubled his stake in US Steel, increasing his position by 143% last quarter. His bet comes as President Donald Trump hints at supporting the blocked Nippon deal—potentially reopening the door for a takeover.

With a Golden Cross, strong buying momentum, and a billionaire-backed vote of confidence, US Steel's next move could be explosive. Will the stock break out, or will regulatory uncertainty put a lid on the rally?

Read Next:

Trump Eyes Approval Of Controversial Steel Merger: Nippon, US Steel Await Key Decision