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ARCELORMITTAL SA
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)

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

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Summary of the analysis

Trends
Short term: Strongly bullish
Underlying: Bullish
Technical indicators
89%
6%
6%
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
0
10
5.9

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.

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

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.

Central Gaps

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:

Central Indicators

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:

Central Indicators

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:

Central Patterns

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
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
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
Standard25.01725.26325.49725.74325.97726.22326.457
Camarilla25.59825.64225.68625.73025.77425.81825.862
Woodie25.01025.26025.49025.74025.97026.22026.450
Fibonacci25.26325.44725.56025.74325.92726.04026.223


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard23.07024.29025.01026.23026.95028.17028.890
Camarilla25.19725.37425.55225.73025.90826.08626.264
Woodie22.82024.16524.76026.10526.70028.04528.640
Fibonacci24.29025.03125.48926.23026.97127.42928.170


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard18.04321.06724.46827.49230.89333.91737.318
Camarilla26.10326.69227.28127.87028.45929.04829.637
Woodie18.23321.16124.65827.58631.08334.01137.508
Fibonacci21.06723.52125.03727.49229.94631.46233.917

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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Londinia
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