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Trend_Trader_JSE
Feb 14, 2022 2:31 PM

ACL, weakness? 

ARCELORMITTAL SA LIMITEDJSE

Description

If JSE:ACL close below the 50EMA, we might pick it up near R7.50.

So vele people are selling because there's no dividend?
Comments
amazedChile70717
Thank you very much for the insights.
Trend_Trader_JSE
amazedChile70717
Can you see a future recovery on ACL?
Trend_Trader_JSE
@amazedChile70717, The trading statement was positive prior the results. The results weren't bad either, although the share price dropped that day. It's possible that some people sold due to the absence of a dividend, or they wanted to lock in some of their impressive gains. The chart doesn't paint a long-term grim picture, it could be one of those healthy dip.

I don't have a position on ACL (JSE), I have a position on MT (the US version of ACL).
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