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 - 1H - Technical analysis published on 04/11/2023 (GMT)

Londinia

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Timeframe : 1H
- Analysis generated on
Status : LEVEL MAINTAINED

Summary of the analysis

Trends

Short term: Strongly bullish

Underlying: Bullish

Technical indicators

89%

My opinion

Bullish above 26.630 EUR

My targets

27.678 EUR (+3.31%)

29.440 EUR (+9.89%)

My analysis

In the short term, there could be an acceleration of the basic bullish trend on ARCELORMITTAL SA. This is a positive signal for buyers. As long as the price remains above 26.630 EUR, a purchase could be considered. The first bullish objective is located at 27.678 EUR. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 29.440 EUR as an objective. Crossing it would then enable buyers to target 30.554 EUR. In the event of a return below 26.630 EUR, the price would probably only initiate a small short-term correction to improve the bullish trend. Trading this correction may be risky.

Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

5.9

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.

This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

The ARCELORMITTAL SA rating is 26.790 EUR. The price registered an increase of +4.12% on the session and was between 26.050 EUR and 26.935 EUR. This implies that the price is at +2.84% from its lowest and at -0.54% from its highest.

26.050

26.935

26.790

A bullish gap was detected at the opening by the Central Gaps scanner. There are a lot of buyers and they have the upper hand in the very short term.

Opening Gap UP

Type : Bullish

Timeframe : Openning

So that you have an overall view of the price change, here is a table showing the variations over several periods:

Technical

A technical analysis in 1H of this ARCELORMITTAL SA chart shows a bullish trend. The signals returned by the moving averages are 64.29% bullish. This bullish trend is reinforced by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

In fact, 16 technical indicators on 18 studied are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : 1 hour

CCI indicator: bearish divergence

Type : Bearish

Timeframe : 1 hour

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Pivot points : price is over resistance 3

Type : Neutral

Timeframe : 1 hour

Price is back over the pivot point

Type : Bullish

Timeframe : Weekly

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:

Near horizontal resistance

Type : Bearish

Timeframe : 1 hour

Resistance of channel is broken

Type : Bullish

Timeframe : 1 hour

The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	24.927	26.183	26.630	26.790	27.678	29.440	30.554
Change (%)	-6.95%	-2.27%	-0.60%	-	+3.31%	+9.89%	+14.05%
Change	-1.863	-0.607	-0.160	-	+0.888	+2.650	+3.764
Level	Major	Major	Major	-	Major	Intermediate	Major

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	25.017	25.263	25.497	25.743	25.977	26.223	26.457
Camarilla	25.598	25.642	25.686	25.730	25.774	25.818	25.862
Woodie	25.010	25.260	25.490	25.740	25.970	26.220	26.450
Fibonacci	25.263	25.447	25.560	25.743	25.927	26.040	26.223

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	23.070	24.290	25.010	26.230	26.950	28.170	28.890
Camarilla	25.197	25.374	25.552	25.730	25.908	26.086	26.264
Woodie	22.820	24.165	24.760	26.105	26.700	28.045	28.640
Fibonacci	24.290	25.031	25.489	26.230	26.971	27.429	28.170

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	18.043	21.067	24.468	27.492	30.893	33.917	37.318
Camarilla	26.103	26.692	27.281	27.870	28.459	29.048	29.637
Woodie	18.233	21.161	24.658	27.586	31.083	34.011	37.508
Fibonacci	21.067	23.521	25.037	27.492	29.946	31.462	33.917

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):	68.23
MACD (12,26,9):	0.1080
Directional Movement:	18.542
AROON (14):	64.286
DEMA (21):	26.375
Parabolic SAR (0,02-0,02-0,2):	25.869
Elder Ray (13):	0.445
Super Trend (3,10):	26.224
Zig ZAG (10):	26.925
VORTEX (21):	1.1410
Stochastique (14,3,5):	95.91
TEMA (21):	26.651
Williams %R (14):	-2.11
Chande Momentum Oscillator (20):	1.120
Repulse (5,40,3):	1.2420
ROCnROLL:	1
TRIX (15,9):	-0.0380
Courbe Coppock:	6.47

MA7:	26.675
MA20:	26.330
MA50:	27.609
MA100:	26.912
MAexp7:	26.600
MAexp20:	26.323
MAexp50:	26.428
MAexp100:	26.588
Price / MA7:	+0.43%
Price / MA20:	+1.75%
Price / MA50:	-2.97%
Price / MA100:	-0.45%
Price / MAexp7:	+0.71%
Price / MAexp20:	+1.77%
Price / MAexp50:	+1.37%
Price / MAexp100:	+0.76%

Quotes : - 15 min delayed data - Euronext Amsterdam

News

Don't forget to follow the news on ARCELORMITTAL SA. At the time of publication of this analysis, the latest news was as follows:

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

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