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MT/N trade ideas

MT steel sector 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 don't buy the news... it can confirm my observations. 03-26-2021 Buying with a small position (30%) due to market conditions. MT is in the metals and mining steel sector. Also, bought SLX ETF. All key stocks in this EFT have positive YTD return. YOY Earnings 67.4% Qtly: 57.89% Others in sector up For educational purposes only... not trading advice.
NYSE:MTLong
by Tea-Trades
Arcelor mittal (MT) back in old channelHi, 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 balance volume is still moving upwards. MACD looks perfectly fine, which makes a trade possible. Entry: 16.85 - 17.88 Target: 21.50 Stoploss: 16.30
EURONEXT:MTLong
by Mouzy92
2
$MT Possible Rotation Play? Cup no Handle?Here's one that just came onto my radar. Arcelormittal $MT is a steel and mining company. Its products include flat products such as sheet & plate and long steel products. It serves automotive, construction, household appliances and packaging markets. This could benefit from an improving economy. Looks like we could have a cup w/o handle formation here. I'm going to watch this one to see if; 1. it forms a handle (don't like to get shaken out on those) 2. it moves up over the most recent high (alert set) 3. the market is better and 4. an increase in buying volume. This has also reclaimed all of my moving averages. All TBD. Ideas, not investing / trading advice. Arcelormittal (MT) EARNINGS BEAT... reported Quarter December 2020 earnings of $0.18 per share on revenue of $14.2 billion. The consensus earnings estimate was $0.08 per share on revenue of $15.7 billion. The Earnings Whisper number was $0.12 per share. Revenue fell 8.6% compared to the same quarter a year ago.
NYSE:MTLong
by jaxdog
7
MT - Sleeping GiantMT is typically the slower brother to that of Mr. X, but that's about to change. Why? - Reducing costs, plan to lay off about 20% of workforce in coming years - >$1B in Buyback planned - Spot prices of steel have are at 7-10 year highs and continue to rise - Demand will skyrocket once Biden's infrastructure stimulus revealed, and once economy opens back up - Other commodity price increases also pushes the price of steel up $MT is the largest steel manufacturer, and unlike others, it is active in the whole value chain, from exploration and development to mining, concentration, pelletizing, rail transport and port operations. With operations that span Europe, the Americas, Africa and Asia. It supplies over half of it's raw materials - allowing them to cost average down higher ore prices, thus expanding their margins on finished product. Technically: - 2 gaps to fill, 2nd gap brings us to $25.47 - I think those get filled next week. - PT: $30-35 by end of April
NYSE:MTLong
by sapientosapien
4