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.
Potential long opportunity on a break of the well defined downtrend which acted as resistance yesterday. Upside gains could be vast.
Hey traders, ARCELORMITTAL is in bullish movement with a hammer buy candle and low buy volume. It is on a bullish slant then breaking the fibonacci, but without any buying force. Great likelihood of going on the last precedent above, if buyers have the appetite. They can fill the bullish gap but little buying power to come on the next high. Please LIKE & FOLLOW, thank you!
I expect $37-$43 stock price for MT until the end of the year 2018.
Arcelormittal MT may reach 21.9$ due to active double bottom, potentialy +48% from current price. Fibo level between 70.4 and 61.8 seems to be a support, stop loss at 14.52$. Sochastic RSI weekly is closing.
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...
25/Nov/2019 01:06 PM AUTHOR: Brandon Gum -- ======================
If there is no recession then the true value of Arcelor it triple the current price. Steel manufacturers trade at huge discount when a crisis is expected. However, it is now hugely overdone for Arcelor Mittal. It is trading at 3x Operating Cashflow!! It means that in 3 years the value is earned in cash. Same for EBITDA 3x P/E is approximately 6x This is...
Marcada la señal de entrada, punto de venta dinámico SHORT.
wave 5 is typically 61.8 , 100 or 123.6 of wave 1. There is slightly pd on higher timeframe
Looking for a retrace, then a move lower in ARCELORMITTAL
Waaaaaay too underpriced stock with amazing fundamentals. Tendency line broken and MA lines crossed. GIVE ME THE PIPS!!!!!
One of my personal tips. We are currently on nice price and we could see price around 32 - 36 soon again. It is going to take some time, but I am already slowly buying these stocks. This is technical analysis. Check for fundamental news for MT before investing.