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.
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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....
Recently a intermediate S/R level was flipped (dashed line). Next is a bigger one around 30.7$. after flipping that level next target is 40.7, and when that one is gained Im looking much further up. This is long term ofcourse since this is a weekly chart. One for my watchlist!
Believing that due to the different circumstances of the company the stocks could possibly keep rising with the postitive trend.
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,...
We had a long position up untill the last top. Then got stopped out today. This stock is still making it's way higher, this week we broke out of the trend channel and onto a new high since march. I think we are moving towards pre-march levels before year end, so still a lot of upside potential. We are now looking for a good entry again. We are approaching...
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...
wave 5 is typically 61.8 , 100 or 123.6 of wave 1. There is slightly pd on higher timeframe