Molycorp (MCP) & United States Steel Corp (X) - Weekly Stocks Pick December 26-30, 2011

During last week of trading, there were many stocks that continued to break out to the upside. Watch Resistance & support levels Below are a list of stocks that I am watching December 26-30, 2011.You can also check previous stocks to buy reports - Right here & Previous Weekly Stocks Pick Gainers- Right here

Molycorp Inc. (MCP)-  Molycorp (MCP) was down week last week.New support located at $25.51 and resistance area is $35. Share of  Molcorp (MCP) trade under $30  November which is good for 1/2 long my position for 2012, I am looking for 2nd  half go long for low $20s if any market correction. I believe that stock could see $50 stock next 12 months.This is my one of the Top Pick for 2012.

12/26-12/30 Weekly MCP resistance, pivot & support

Resistance R3 32.93, R2 31.21, R1 30.12
Pivot Point 28.40
Support  S1 27.31, S2 25.59, S3 24.50

Technical Analysis Stock Charts: Charts Below

60m chart
Daily chart

United States Steel Corp (X)-Share of United States Steel Corp X is trading near $18-$25 last few weeks.Share of United State Steel trading low 20s  last part of the year 2011. X is a strong buy below $20 for the long term.United States Steel Corp will now have support at $14 which is a new support level.United State Steel is a strong buy below $20 any market correction in coming days.But stock will stay this range long time but low risk stock.I am looking for next 12 months $40-$50 price target. This is my one of the Top Pick for 2012.

12/26-12/30 Weekly X resistance, pivot & support

Resistance R3 29.66, R2 27.95, R1 27.08
Pivot Point 25.37
Support  S1 24.50 S2 22.79, S3 21.92

Technical Analysis Stock Charts: Charts Below

60m chart
Daily chart


Weekly Stocks Pick Rule: When ever I buy or short stocks if that stocks go up short term quick 5-10% gain, I took profit and buy back in low price again. When ever I buy stock always have stop price. Always protect my original capital.

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