Nice long opportunity on #ArcelorMittal based on historical trendline and current positive candlestick pattern.
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 - 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...
ArcelorMittal has activated a second bullish impulse with target of 14€, +21% from current price.