Analysts warn that steel prices may increase due to the new 50% tariffs
Tariff Increase Announcement: President Trump announced a significant increase in tariffs on imported steel from 25% to 50%, aiming to protect the U.S. steel industry and prevent foreign competition from undermining American jobs.
Impact and Industry Response: While Trump claims that previous tariffs saved the steel sector, analysts warn that higher tariffs could lead to increased prices for steel, affecting construction and manufacturing industries, as well as the overall economy.
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Technical Analysis for TRUMP
Technical Sentiment Analysis for OFFICIAL TRUMP (TRUMP) As of , OFFICIAL TRUMP (TRUMP) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 5 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for TRUMP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, TRUMP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
OFFICIAL TRUMP (TRUMP) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 1.541 | 2.28 | 3.041 | 3.78 | 4.541 | 5.28 | 6.041 |
| Fibonacci | 2.28 | 2.853 | 3.207 | 3.78 | 4.353 | 4.707 | 5.28 |
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