ARCELORMITTAL SA - 1H - Technical analysis published on 07/21/2022 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
44%
22%
33%
My opinion
Bullish above 22.167 EUR
My targets
23.023 EUR (+0.91%)
23.745 EUR (+4.08%)
My analysis
The bullish trend is currently very strong on ARCELORMITTAL SA. As long as the price remains above the support at 22.167 EUR, you could try to benefit from the boom. The first bullish objective is located at 23.023 EUR. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 23.745 EUR as an objective. Crossing it would then enable buyers to target 24.300 EUR. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. 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, technical indicators are indecisive, but do not change the general bullish opinion of this analysis.
Force
0
10
6.8
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This analysis was given by sven-pro-trader. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The ARCELORMITTAL SA rating is 22.815 EUR. The price registered a decrease of -0.72% on the session with the lowest point at 22.590 EUR and the highest point at 23.125 EUR. The deviation from the price is +1.00% for the low point and -1.34% for the high point.22.590
23.125
22.815
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
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 strongly bullish trend. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 8 are bullish, 6 are neutral and 4 are bearish. Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : 1 hour
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near support of channel
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 21.278 | 21.702 | 22.167 | 22.815 | 23.023 | 23.745 | 24.300 |
| Change (%) | -6.74% | -4.88% | -2.84% | - | +0.91% | +4.08% | +6.51% |
| Change | -1.537 | -1.113 | -0.648 | - | +0.208 | +0.930 | +1.485 |
| Level | Major | Minor | Minor | - | Major | Intermediate | Intermediate |
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 | 22.115 | 22.310 | 22.645 | 22.840 | 23.175 | 23.370 | 23.705 |
| Camarilla | 22.834 | 22.883 | 22.931 | 22.980 | 23.029 | 23.077 | 23.126 |
| Woodie | 22.185 | 22.345 | 22.715 | 22.875 | 23.245 | 23.405 | 23.775 |
| Fibonacci | 22.310 | 22.513 | 22.638 | 22.840 | 23.043 | 23.168 | 23.370 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 19.185 | 19.955 | 20.710 | 21.480 | 22.235 | 23.005 | 23.760 |
| Camarilla | 21.046 | 21.185 | 21.325 | 21.465 | 21.605 | 21.745 | 21.884 |
| Woodie | 19.178 | 19.951 | 20.703 | 21.476 | 22.228 | 23.001 | 23.753 |
| Fibonacci | 19.955 | 20.538 | 20.898 | 21.480 | 22.063 | 22.423 | 23.005 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8.085 | 14.560 | 18.035 | 24.510 | 27.985 | 34.460 | 37.935 |
| Camarilla | 18.774 | 19.686 | 20.598 | 21.510 | 22.422 | 23.334 | 24.246 |
| Woodie | 6.585 | 13.810 | 16.535 | 23.760 | 26.485 | 33.710 | 36.435 |
| Fibonacci | 14.560 | 18.361 | 20.709 | 24.510 | 28.311 | 30.659 | 34.460 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 60.05 | |
| MACD (12,26,9): | 0.2500 | |
| Directional Movement: | 18.470 | |
| AROON (14): | 85.714 | |
| DEMA (21): | 22.875 | |
| Parabolic SAR (0,02-0,02-0,2): | 22.573 | |
| Elder Ray (13): | 0.020 | |
| Super Trend (3,10): | 22.227 | |
| Zig ZAG (10): | 22.690 | |
| VORTEX (21): | 1.1550 | |
| Stochastique (14,3,5): | 62.56 | |
| TEMA (21): | 22.951 | |
| Williams %R (14): | -42.93 | |
| Chande Momentum Oscillator (20): | -0.005 | |
| Repulse (5,40,3): | -0.1810 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1810 | |
| Courbe Coppock: | 5.43 |
| MA7: | 22.151 | |
| MA20: | 21.992 | |
| MA50: | 25.369 | |
| MA100: | 26.879 | |
| MAexp7: | 22.764 | |
| MAexp20: | 22.533 | |
| MAexp50: | 22.165 | |
| MAexp100: | 22.064 | |
| Price / MA7: | +3.00% | |
| Price / MA20: | +3.74% | |
| Price / MA50: | -10.07% | |
| Price / MA100: | -15.12% | |
| Price / MAexp7: | +0.22% | |
| Price / MAexp20: | +1.25% | |
| Price / MAexp50: | +2.93% | |
| Price / MAexp100: | +3.40% |
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:
- ArcelorMittal announces the publication of second quarter 2022 sell-side analyst consensus figures
- Blackrock Inc. shareholding notification
- ArcelorMittal completes acquisition of majority stake in voestalpine’s state-of-the-art HBI facility in Texas
- ArcelorMittal publishes its 2021 Payments to Governments in respect of Extractive Industries report
- ArcelorMittal announces the completion of its US$1 billion share buyback program
This member declared not having a position on this financial instrument or a related financial instrument.
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