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ARCELORMITTAL SAAA

ARCELORMITTAL SA

30.49EURD
−1.66−5.16%
At close at Mar 7, 16:37 GMT
EUR
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MTS trade ideas

MT pullback from top: buy the dipWe had a long position up untill the last top. Then got stopped out today. This stock is still making it's way higher, this week we broke out of the trend channel and onto a new high since march. I think we are moving towards pre-march levels before year end, so still a lot of upside potential. We are now looking for a good entry again. We are approaching resistance at 15.242 in this consolidation after yesterday's high. MACD and RSI are all pointing down and looks like they have room to go down further. If we look at the trendlines we can draw from the channel we just broke out of we could pullback for 2-3 days before we go back up. Now it's best to wait and see if we can find a new solid resitance. We will probably trade sideways for a bit before we can rally again. To be clear, I was long on MT and made profit, wanted to take half of the top, but got stopped out today (stop probably a tad too tight). Will re-enter long at the right moment.
ELong
by STATICERROR
MT Buy Opportunity LoadingCommodities have remained very cheap against the recent rise in Major World Indexes. This includes iron ore. And this cheapness can create opportunities in the iron and steel industry. The price can get even cheaper. The analysis does not contain a very high quality risk / reward ratio, but I think it is possible to make very profitable trades based on this idea in lower time frames. Parameters Risk/Reward Ratio : 1 / 1.68 Stop-Loss : 13.632 Goal : 20.43
ELong
by Noldo
Turning point - Arcelor Mittal hugely undervaluedIf there is no recession then the true value of Arcelor it triple the current price. Steel manufacturers trade at huge discount when a crisis is expected. However, it is now hugely overdone for Arcelor Mittal. It is trading at 3x Operating Cashflow!! It means that in 3 years the value is earned in cash. Same for EBITDA 3x P/E is approximately 6x This is extremely cheap! Especially if they can refinance their debt at current low rates the P/E will even become cheaper. Perfect moment to step in!
NLong
by TurkishBearCapital
1