First of all, I don't like Spanish stocks at all, but hey, a client has bought stocks at the current price and I gave him the following analysis.
We would have to be consistent even though it is respecting the average, and position a lower operation to average in case the asset once again seeks the lower part of the range that we believe it would not reach. As...
LIMIT BUY @ 24.80 EUR
TP @ 30.50 EUR (22.98%)
SL @ 23.00 EUR (-7.26%)
Technical Analysis
This stock has formed a Continuation Wedge pattern (Bullish), providing a target price for the intermediate-term in the range of 30.50 to 32.00, the Momentum oscillator has crossed above 0, thereby signaling a new accelerating uptrend. The stop loss was placed just below the...
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 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...
The PEAD projected a Bullish outlook for $MT after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 75%.
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 /...
The PEAD projected a Neutral outlook for $MT after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 20%.
The PEAD projected a Bullish outlook for $MT after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 25%.
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 /...
On the day chart it indicates an inverse head & shoulder, followed by fallback by a downward flag.
which started the way up (lung). if next week's candle of Apr 19 by the bullish pennant
then the price target can go around € 35.00.
16-04-22 my first TA :)
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....
