Inv Cup and Handle formed on July 2021... The price broke below and since then it's been on a downward trajectory with a solid downtrend. Now the price is currently testing the downtrend, which can go either way. If it breaks up, we will see short term upside to 3.00. If it turns and continues down from here the investment short analysis will continue to...
Inv Cup and Handle formed on 28 September 2022. The price broke below the Brim level and since then it's been a one way trip down to 80 cents. Right now it seems to turn and approach a bull trap. This is where the price is likely to run up in the next two or three months with the Santa Claus Rally and the January Effect. It will then reach R2.20 to test the...
We unfortunately foresaw an ominous formation with ACL. An Inv Cup and Handle on 22 September 2022 where the first trade analysis was sent. The price broke below the Brim level and has been ever so slowly but evidently falling. The downtrend remains strong with the price below 200MA. And with no end of the bear market in sight, the target remains at...
ArcelorMittal has shown downside since 2008 where the price was at its peak at R264,00. SInce the financial crisis it's just been down and down for the steel and minin company. It was one of the biggest in the world. and today is showing a slow death. The technicals still confirm downside to come with the Inverse Cup and Handle. The taregt remains at 20...
Nice long opportunity on #ArcelorMittal based on historical trendline and current positive candlestick pattern.
ACl broke below a massive Inverse Cup and Handle. And only today did it hit the Target 1... If the price continues to drop, we can see this going into cents territory. Right now price is king, so no matter what you're reading with projects and strong fundamentals - this is where people buy and lose their shirts because the market continues down OR continues...
ArcelorMittal has activated a divergence with both MACD and RSI and with target price at 30.985€. I'd set the stop loss below 19.42€ because the structure would get inactivated. This is a short term structure but just as a reminder this company has a double bottom activated with target price to 54.10€.
ArcelorMittal - 30d expiry - We look to Buy a break of 26.51 (stop at 25.56) Daily signals are bullish. 26.47 has been pivotal. Our short term bias remains positive. The bias is to break to the upside. There is no clear indication that the upward move is coming to an end. We are trading within a Bullish Ascending Triangle formation. Our profit targets...
ArcelorMittal - 30d expiry - We look to Buy a break of 22.52 (stop at 21.59) Prices have reacted from 19.40. A break of the recent high at 22.40 should result in a further move higher. Short term bias has turned positive. The RSI is trending higher. This stock has seen good sales growth. Our profit targets will be 24.92 and 25.72 Resistance: 22.50 /...
ArcelorMittal Short Term - We look to Buy at 23.74 (stop at 22.81) Preferred trade is to buy on dips. Although the anticipated move higher is corrective, it does offer ample risk/reward today. Previous support located at 24.00. Expect trading to remain mixed and volatile. Our profit targets will be 25.77 and 26.28 Resistance: 26.00 / 28.00 /...
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?
ArcelorMittal - Short Term - We look to Sell a break of 28.39 (stop at 29.95) Bespoke resistance is located at 29.00. Price action has posted a bearish Shooting Star and is negative for short-term sentiment. Previous support located at 24.50. Trading within the Channel formation. The bias is still for lower levels and we look for any gains to be limited. Our...
ArcelorMittal - Short Term - We look to Buy at 29.48 (stop at 27.95) Preferred trade is to buy on dips. Previous resistance at 30.00 now becomes support. We have a 38.2% Fibonacci pullback level of 29.24 from 23.12 to 33.02. The bias is still for higher levels and we look for any dips to be limited. Risk/Reward would be poor to call a buy from current levels....
Hi, Arcelor Mittal doubled from 10 to 20 in less than 4 months. The strong uptrend didn't make any correction, till it reached the upperband of the channel that is used to trade in. From that point it corrected perfectly fine to a decent Fibonacci level. What we see right now is that it seems to have bottomed at 16.85 levels. The DRSI looks oversold and the on...
Bearish divergence on the last top. Increasing price but declining money flow. Declining volumes. I do not expect MT to be able to make a new high from here, indicators say it will make a lower high and then pullback, but of course we love surprises. Would wait till end of the trading day to see what USA opening does before deciding to enter a short at this...
ArcelorMittal SA is the biggest steel manufacturer in the world. We had a stellar run from the march low and we made good money with this stock. A lot of people believe it has steam left. The big question, is this the top or are we going to go higher? Some institutions have upgraded MT to anywhere between a 25-32.5 EUR target. We got the high steel prices,...
ArcelorMittal has activated a second bullish impulse with target of 14€, +21% from current price.
Arcelormittal is in a very nice and clean corrective structure after a sharp impulse to the downside. Expecting a new impulse down soon as MT is getting closer to its decision point. My first target would be the previous low at around €6.000.