If retail earnings come in negative this stock could see further weakness.
A head & shoulders pattern has triggered which means we have to be aware of continued weakness to the downside.
A close above the neckline negates the pattern but being below key moving averages does not display signs of strength.
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 /...
ArcelorMittal, one of the major steel producers.
This is the weekly chart. After a big double bottom , MT is back at historical resistance around 30-31.
I would watch that level and enter a long swing trade if it breaks 31.
First target would be 40.
Most analysts rate this as a buy with a target at 50.
Trade safe.
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....
Shares of several steel companies are trading higher, potentially amid US infrastructure optimism and outlook for an economic recovery, both of which could lift demand. Additionally, ArcelorMittal (MT) reportedly raised flat steel price offers.
Steel Stocks Higher Friday: US Steel Up 8%, Nucor Up 7%, Arcelor Mittal Up 6%, Steel Dynamics Up 5%(Benzinga)
While I...
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...
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.
Commodities have remained very cheap against the recent rise in Major World Indexes.
This includes iron ore.
And this cheapness can create opportunities in the iron and steel industry.
The price can get even cheaper.
The analysis does not contain a very high quality risk / reward ratio, but I think it is possible to make very profitable trades based on this idea...
Scheduled september 18th
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The most recent sells were on 4/26 and 5/10 and both affected the price noticeably. If they are selling like clockwork, we should see a giant red dildo hit the charts...
Gap and go today. Also completely filled the bearish gap from 4/12. If we break today's high, I think there is a good chance it continues higher. The one major roadblock to that is the 50 EMA. At the very least, I think it'll pause around the 50.
This is an above average risk trade solely because we are right in the middle of a channel. That is part of the reason...
