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 07/12/2024 (GMT)

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Timeframe : 1H
- Analysis generated on
Status : INVALID

Summary of the analysis

Trends

Short term: Bullish

Underlying: Slightly bullish

Technical indicators

83%

17%

My opinion

Bullish above 21.140 EUR

My targets

21.790 EUR (+0.93%)

22.413 EUR (+3.81%)

My analysis

The bullish trend is truly tentative and does not seem to be supported in the short term. It is advisable to trade ARCELORMITTAL SA with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 21.140 EUR. The buyers' bullish objective is set at 21.790 EUR. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 22.413 EUR. If there is any crossing, the next objective would be the resistance located at 22.830 EUR. If there is a bearish break in the support located at 21.140 EUR some indecision would arise.

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

5.7

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

ARCELORMITTAL SA rating 21.590 EUR. On the day, this instrument gained +2.71% with the lowest point at 21.320 EUR and the highest point at 21.640 EUR. The deviation from the price is +1.27% for the low point and -0.23% for the high point.

21.320

21.640

21.590

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:

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

Near a new LOW record (1st january)

Type : Bearish

Timeframe : Weekly

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of this 1H chart of ARCELORMITTAL SA indicates that the overall trend is slightly bullish. 60.71% of the signals given by moving averages are bullish. The slightly bullish signals given by short-term moving averages do not show a strengthening of this global trend. There is no crossing of moving average by the price or crossing of moving averages between themselves.

In fact, 15 technical indicators on 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:

RSI indicator is overbought : over 70

Type : Neutral

Timeframe : 1 hour

CCI indicator is overbought : over 100

Type : Neutral

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

Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:

Near horizontal resistance

Type : Bearish

Timeframe : 1 hour

Resistance of channel is broken

Type : Bullish

Timeframe : 1 hour

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

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	19.690	20.550	21.140	21.590	21.790	22.413	22.830
Change (%)	-8.80%	-4.82%	-2.08%	-	+0.93%	+3.81%	+5.74%
Change	-1.900	-1.040	-0.450	-	+0.200	+0.823	+1.240
Level	Major	Intermediate	Intermediate	-	Major	Intermediate	Minor

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	20.527	20.633	20.827	20.933	21.127	21.233	21.427
Camarilla	20.938	20.965	20.993	21.020	21.048	21.075	21.103
Woodie	20.570	20.655	20.870	20.955	21.170	21.255	21.470
Fibonacci	20.633	20.748	20.819	20.933	21.048	21.119	21.233

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	20.360	20.710	21.100	21.450	21.840	22.190	22.580
Camarilla	21.287	21.354	21.422	21.490	21.558	21.626	21.694
Woodie	20.380	20.720	21.120	21.460	21.860	22.200	22.600
Fibonacci	20.710	20.993	21.167	21.450	21.733	21.907	22.190

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	16.783	18.997	20.183	22.397	23.583	25.797	26.983
Camarilla	20.435	20.747	21.058	21.370	21.682	21.993	22.305
Woodie	16.270	18.740	19.670	22.140	23.070	25.540	26.470
Fibonacci	18.997	20.296	21.098	22.397	23.696	24.498	25.797

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):	71.05
MACD (12,26,9):	0.1330
Directional Movement:	25.390
AROON (14):	35.714
DEMA (21):	21.285
Parabolic SAR (0,02-0,02-0,2):	20.928
Elder Ray (13):	0.296
Super Trend (3,10):	21.141
Zig ZAG (10):	21.550
VORTEX (21):	1.2510
Stochastique (14,3,5):	91.85
TEMA (21):	21.485
Williams %R (14):	-10.00
Chande Momentum Oscillator (20):	0.640
Repulse (5,40,3):	0.3270
ROCnROLL:	1
TRIX (15,9):	0.0160
Courbe Coppock:	5.55

MA7:	21.211
MA20:	21.533
MA50:	22.775
MA100:	23.509
MAexp7:	21.414
MAexp20:	21.168
MAexp50:	21.168
MAexp100:	21.347
Price / MA7:	+1.79%
Price / MA20:	+0.26%
Price / MA50:	-5.20%
Price / MA100:	-8.16%
Price / MAexp7:	+0.82%
Price / MAexp20:	+1.99%
Price / MAexp50:	+1.99%
Price / MAexp100:	+1.14%

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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