ARCELORMITTAL SA

- EUR (-)

- 15 min delayed data - Euronext Amsterdam

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Stocks
Ticker:	MT
ISIN:	LU1598757687

ARCELORMITTAL SA - Daily - Technical analysis published on 03/01/2023 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Strongly bullish

Technical indicators

67%

17%

My opinion

Bullish above 26.183 EUR

My targets

30.554 EUR (+5.12%)

32.940 EUR (+13.33%)

My analysis

All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on ARCELORMITTAL SA as long as the price remains well above 26.183 EUR. The buyers' bullish objective is set at 30.554 EUR. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 32.940 EUR. If there is any crossing, the next objective would be the resistance located at 68.824 EUR. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.

In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.

Force

7.7

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

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Additional analysis

Quotes

The ARCELORMITTAL SA rating is 29.065 EUR. On the day, this instrument gained +2.18% and was between 28.860 EUR and 29.560 EUR. This implies that the price is at +0.71% from its lowest and at -1.67% from its highest.

28.860

29.560

29.065

The Central Gaps scanner detects a bullish gap which is a sign that buyers have taken the lead in the very short term.

Opening Gap UP

Type : Bullish

Timeframe : Openning

A study of price movements over other periods shows the following variations:

The Central Records scanner for higher/lower results shows the following items:

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

New HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of this Daily chart of ARCELORMITTAL SA indicates that the overall trend is strongly bullish. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. An assessment of moving averages reveals a bullish signal that could impact this trend:

Bullish trend reversal : Moving Average 20

Type : Bullish

Timeframe : Daily

In fact, 12 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

Other results related to technical indicators were also found by the Central Indicators scanner:

Pivot points : price is over resistance 2

Type : Neutral

Timeframe : Daily

Pivot points : price is over resistance 2

Type : Neutral

Timeframe : Weekly

MACD crosses UP its Moving Average

Type : Bullish

Timeframe : Daily

SuperTrend indicator bullish reversal

Type : Bullish

Timeframe : Daily

An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:

Horizontal resistance is broken

Type : Bullish

Timeframe : Daily

Resistance of channel is broken

Type : Bullish

Timeframe : Daily

From the Japanese candlestick perspective, the Central Candlesticks scanner notes the presence of these results that could impact the short-term trend:

White gravestone / inverted hammer

Type : Neutral

Timeframe : Daily

Upside gap

Type : Bullish

Timeframe : Daily

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	24.874	26.183	28.878	29.065	30.554	32.940	68.824
Change (%)	-14.42%	-9.92%	-0.64%	-	+5.12%	+13.33%	+136.79%
Change	-4.191	-2.882	-0.187	-	+1.489	+3.875	+39.759
Level	Intermediate	Intermediate	Major	-	Major	Minor	Minor

To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	27.545	27.765	28.105	28.325	28.665	28.885	29.225
Camarilla	28.291	28.342	28.394	28.445	28.496	28.548	28.599
Woodie	27.605	27.795	28.165	28.355	28.725	28.915	29.285
Fibonacci	27.765	27.979	28.111	28.325	28.539	28.671	28.885

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	26.433	27.057	27.458	28.082	28.483	29.107	29.508
Camarilla	27.578	27.672	27.766	27.860	27.954	28.048	28.142
Woodie	26.323	27.001	27.348	28.026	28.373	29.051	29.398
Fibonacci	27.057	27.448	27.690	28.082	28.473	28.715	29.107

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	24.958	25.872	27.158	28.072	29.358	30.272	31.558
Camarilla	27.840	28.042	28.243	28.445	28.647	28.848	29.050
Woodie	25.145	25.965	27.345	28.165	29.545	30.365	31.745
Fibonacci	25.872	26.712	27.231	28.072	28.912	29.431	30.272

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):	61.48
MACD (12,26,9):	0.2340
Directional Movement:	13.786
AROON (14):	92.857
DEMA (21):	28.518
Parabolic SAR (0,02-0,02-0,2):	27.151
Elder Ray (13):	0.914
Super Trend (3,10):	27.194
Zig ZAG (10):	29.080
VORTEX (21):	0.9430
Stochastique (14,3,5):	73.55
TEMA (21):	28.380
Williams %R (14):	-17.48
Chande Momentum Oscillator (20):	1.955
Repulse (5,40,3):	0.5200
ROCnROLL:	1
TRIX (15,9):	0.0990
Courbe Coppock:	5.11

MA7:	28.324
MA20:	28.063
MA50:	27.524
MA100:	25.891
MAexp7:	28.428
MAexp20:	28.190
MAexp50:	27.479
MAexp100:	26.497
Price / MA7:	+2.62%
Price / MA20:	+3.57%
Price / MA50:	+5.60%
Price / MA100:	+12.26%
Price / MAexp7:	+2.24%
Price / MAexp20:	+3.10%
Price / MAexp50:	+5.77%
Price / MAexp100:	+9.69%

Quotes : - 15 min delayed data - Euronext Amsterdam

News

The last news published on ARCELORMITTAL SA at the time of the generation of this analysis was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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