$MT Possible Rotation Play? Cup no Handle?
Here's one that just came onto my radar. Arcelormittal 
MT is a steel and mining company. Its products include flat products such as sheet & plate and long steel products. It serves automotive, construction, household appliances and packaging markets. This could benefit from an improving economy. Looks like we could have a cup w/o handle formation here. I'm going to watch this one to see if; 1. it forms a handle (don't like to get shaken out on those) 2. it moves up over the most recent high (alert set) 3. the market is better and 4. an increase in buying volume. This has also reclaimed all of my moving averages. All TBD. Ideas, not investing / trading advice.
Arcelormittal (MT) EARNINGS BEAT... reported Quarter December 2020 earnings of $0.18 per share on revenue of $14.2 billion. The consensus earnings estimate was $0.08 per share on revenue of $15.7 billion. The Earnings Whisper number was $0.12 per share. Revenue fell 8.6% compared to the same quarter a year ago.
MT is a steel and mining company. Its products include flat products such as sheet & plate and long steel products. It serves automotive, construction, household appliances and packaging markets. This could benefit from an improving economy. Looks like we could have a cup w/o handle formation here. I'm going to watch this one to see if; 1. it forms a handle (don't like to get shaken out on those) 2. it moves up over the most recent high (alert set) 3. the market is better and 4. an increase in buying volume. This has also reclaimed all of my moving averages. All TBD. Ideas, not investing / trading advice. Arcelormittal (MT) EARNINGS BEAT... reported Quarter December 2020 earnings of $0.18 per share on revenue of $14.2 billion. The consensus earnings estimate was $0.08 per share on revenue of $15.7 billion. The Earnings Whisper number was $0.12 per share. Revenue fell 8.6% compared to the same quarter a year ago.
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Opened a new 1/2 position @ $25.90 Stop 24.25
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