MTL trade ideas
EMPTY -> EMPT -> EMT -> MTLooks like MT is overheating, coming up to some strong resistance. Set a buy signal for the 50SMA on the 4hr.
Steal should be in trend for a longer timeMT is in a very strong uptrend, because of the steal prices.
I think it is still good to get an entry at 30.50$
The GFC 2008. RECOVERY, GREEN SHOOTS, OBAMA, QE pt 2Second part of the look back in time
Ford
Citibank
Bank Of America
Micron Tech
MT steel
SPY
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.
Arcelor Mittal ready for a grow spurtBelieving that due to the different circumstances of the company the stocks could possibly keep rising with the postitive trend.
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
$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.
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
ArcellorMittal - SHORT - bearish divergenceBearish 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 level.
Trade safe!
the trend doesnt like! especially when its broken.breaking a big downtrend channel here too! long 24 stop loss 19.99 target 38! great risk reward here! congrats to longs in advance even if you arent in yet :) goodluck !
