ARCEL.MITTAL - 1H - Technical analysis published on 01/10/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
22%
50%
28%
My opinion
Bearish under 25.033 EUR
My targets
24.393 EUR (-1.54%)
23.869 EUR (-3.66%)
My analysis
The bearish trend is currently very strong for ARCEL.MITTAL. As long as the price remains below the resistance at 25.033 EUR, you could try to take advantage of the bearish rally. The first bearish objective is located at 24.393 EUR. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 23.869 EUR as an objective. Crossing it would then enable sellers to target 23.490 EUR. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
7
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The ARCEL.MITTAL price is 24.775 EUR. The price is lower by -0.06% since the last closing with the lowest point at 24.570 EUR and the highest point at 25.025 EUR. The deviation from the price is +0.83% for the low point and -1.00% for the high point.24.570
25.025
24.775
The Central Gaps scanner detects the formation of a bearish gap marking the strong presence of sellers ahead of buyers at the opening. This formed a quotation gap.
Opening Gap DOWN
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of ARCEL.MITTAL in 1H shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Central Indicators, the detector scanner for these technical indicators recently detected a signal:
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 23.869 | 24.393 | 24.753 | 24.775 | 25.033 | 25.341 | 26.015 |
| Change (%) | -3.66% | -1.54% | -0.09% | - | +1.04% | +2.28% | +5.01% |
| Change | -0.906 | -0.382 | -0.022 | - | +0.258 | +0.566 | +1.240 |
| Level | Major | Intermediate | Intermediate | - | Intermediate | Major | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 24.030 | 24.410 | 24.600 | 24.980 | 25.170 | 25.550 | 25.740 |
| Camarilla | 24.633 | 24.686 | 24.738 | 24.790 | 24.842 | 24.895 | 24.947 |
| Woodie | 23.935 | 24.363 | 24.505 | 24.933 | 25.075 | 25.503 | 25.645 |
| Fibonacci | 24.410 | 24.628 | 24.762 | 24.980 | 25.198 | 25.332 | 25.550 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 23.835 | 24.430 | 24.920 | 25.515 | 26.005 | 26.600 | 27.090 |
| Camarilla | 25.112 | 25.211 | 25.311 | 25.410 | 25.510 | 25.609 | 25.708 |
| Woodie | 23.783 | 24.404 | 24.868 | 25.489 | 25.953 | 26.574 | 27.038 |
| Fibonacci | 24.430 | 24.845 | 25.101 | 25.515 | 25.930 | 26.186 | 26.600 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 20.503 | 21.832 | 23.748 | 25.077 | 26.993 | 28.322 | 30.238 |
| Camarilla | 24.773 | 25.070 | 25.368 | 25.665 | 25.963 | 26.260 | 26.557 |
| Woodie | 20.798 | 21.979 | 24.043 | 25.224 | 27.288 | 28.469 | 30.533 |
| Fibonacci | 21.832 | 23.071 | 23.837 | 25.077 | 26.316 | 27.082 | 28.322 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 36.25 | |
| MACD (12,26,9): | -0.1380 | |
| Directional Movement: | -31.462 | |
| AROON (14): | -71.429 | |
| DEMA (21): | 24.867 | |
| Parabolic SAR (0,02-0,02-0,2): | 25.120 | |
| Elder Ray (13): | -0.123 | |
| Super Trend (3,10): | 25.253 | |
| Zig ZAG (10): | 24.840 | |
| VORTEX (21): | 0.8490 | |
| Stochastique (14,3,5): | 35.64 | |
| TEMA (21): | 24.821 | |
| Williams %R (14): | -65.82 | |
| Chande Momentum Oscillator (20): | -0.395 | |
| Repulse (5,40,3): | -0.1790 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0700 | |
| Courbe Coppock: | 3.43 |
| MA7: | 25.305 | |
| MA20: | 25.348 | |
| MA50: | 23.323 | |
| MA100: | 23.180 | |
| MAexp7: | 24.899 | |
| MAexp20: | 25.045 | |
| MAexp50: | 25.255 | |
| MAexp100: | 25.334 | |
| Price / MA7: | -2.09% | |
| Price / MA20: | -2.26% | |
| Price / MA50: | +6.23% | |
| Price / MA100: | +6.88% | |
| Price / MAexp7: | -0.50% | |
| Price / MAexp20: | -1.08% | |
| Price / MAexp50: | -1.90% | |
| Price / MAexp100: | -2.21% |
Quotes :
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15 min delayed data
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Spain Stocks
News
Don't forget to follow the news on ARCEL.MITTAL. At the time of publication of this analysis, the latest news was as follows:
- ArcelorMittal holds Investor Event
- ArcelorMittal publishes its 2016 Report on Payments to Governments in respect of Extractive Activities
- ArcelorMittal led consortium reaches agreement regarding Ilva lease and purchase agreement
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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