MT technical Breakdown on watchIf retail earnings come in negative this stock could see further weakness.
A head & shoulders pattern has triggered which means we have to be aware of continued weakness to the downside.
A close above the neckline negates the pattern but being below key moving averages does not display signs of strength.
MT
MT to break higher?ArcelorMittal - 30d expiry - We look to Buy a break of 26.51 (stop at 25.56)
Daily signals are bullish.
26.47 has been pivotal.
Our short term bias remains positive.
The bias is to break to the upside.
There is no clear indication that the upward move is coming to an end.
We are trading within a Bullish Ascending Triangle formation.
Our profit targets will be 28.88 and 29.38
Resistance: 26.50 / 27.00 / 28.00
Support: 25.50 / 25.10 / 24.42
Disclaimer – Saxo Bank Group.
Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like any and all indicators, strategies, columns, articles and other features accessible on/though this site (including those from Signal Centre) are for informational purposes only and should not be construed as investment advice by you. Such technical analysis are believed to be obtained from sources believed to be reliable, but not warrant their respective completeness or accuracy, or warrant any results from the use of the information. Your use of the technical analysis , as would also your use of any and all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
Arcelormittal to break a resistance. ArcelorMittal - 30d expiry - We look to Buy a break of 22.52 (stop at 21.59)
Prices have reacted from 19.40.
A break of the recent high at 22.40 should result in a further move higher.
Short term bias has turned positive.
The RSI is trending higher.
This stock has seen good sales growth.
Our profit targets will be 24.92 and 25.72
Resistance: 22.50 / 23.50 / 24.50
Support: 22.00 / 21.40 / 21.00
Disclaimer – Saxo Bank Group.
Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like any and all indicators, strategies, columns, articles and other features accessible on/though this site (including those from Signal Centre) are for informational purposes only and should not be construed as investment advice by you. Such technical analysis are believed to be obtained from sources believed to be reliable, but not warrant their respective completeness or accuracy, or warrant any results from the use of the information. Your use of the technical analysis , as would also your use of any and all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
Shot term bounce for MT? ArcelorMittal
Short Term - We look to Buy at 23.74 (stop at 22.81)
Preferred trade is to buy on dips. Although the anticipated move higher is corrective, it does offer ample risk/reward today. Previous support located at 24.00. Expect trading to remain mixed and volatile.
Our profit targets will be 25.77 and 26.28
Resistance: 26.00 / 28.00 / 30.00
Support: 24.00 / 20.00 / 18.00
Disclaimer – Saxo Bank Group. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis, like any and all indicators, strategies, columns, articles and other features accessible on/though this site (including those from Signal Centre) are for informational purposes only and should not be construed as investment advice by you. Such technical analysis are believed to be obtained from sources believed to be reliable, but not warrant their respective completeness or accuracy, or warrant any results from the use of the information. Your use of the technical analysis, as would also your use of any and all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
MT: WATCH FOR BREAK OUTArcelorMittal, one of the major steel producers.
This is the weekly chart. After a big double bottom , MT is back at historical resistance around 30-31.
I would watch that level and enter a long swing trade if it breaks 31.
First target would be 40.
Most analysts rate this as a buy with a target at 50.
Trade safe.
MT to Head Back to Support? ArcelorMittal - Short Term - We look to Sell a break of 28.39 (stop at 29.95)
Bespoke resistance is located at 29.00. Price action has posted a bearish Shooting Star and is negative for short-term sentiment. Previous support located at 24.50. Trading within the Channel formation. The bias is still for lower levels and we look for any gains to be limited.
Our profit targets will be 24.50 and 23.15
Resistance: 29.00 / 32.00 / 35.00
Support: 25.50 / 24.00 / 22.00
Disclaimer – Saxo Bank Group. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis, like any and all indicators, strategies, columns, articles and other features accessible on/though this site (including those from Signal Centre) are for informational purposes only and should not be construed as investment advice by you. Such technical analysis are believed to be obtained from sources believed to be reliable, but not warrant their respective completeness or accuracy, or warrant any results from the use of the information. Your use of the technical analysis, as would also your use of any and all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
MT: Buying the Dip ArcelorMittal - Short Term - We look to Buy at 29.48 (stop at 27.95)
Preferred trade is to buy on dips. Previous resistance at 30.00 now becomes support. We have a 38.2% Fibonacci pullback level of 29.24 from 23.12 to 33.02. The bias is still for higher levels and we look for any dips to be limited. Risk/Reward would be poor to call a buy from current levels.
Our profit targets will be 33.01 and 34.40
Resistance: 33.00 / 35.00 / 37.00
Support: 30.00 / 28.00 / 25.00
Disclaimer – Saxo Bank Group. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis, like any and all indicators, strategies, columns, articles and other features accessible on/though this site (including those from Signal Centre) are for informational purposes only and should not be construed as investment advice by you. Such technical analysis are believed to be obtained from sources believed to be reliable, but not warrant their respective completeness or accuracy, or warrant any results from the use of the information. Your use of the technical analysis, as would also your use of any and all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
Please also be reminded that if despite the above, any of the said technical analysis (or any of the said indicators, strategies, columns, articles and other features accessible on/through this site) is found to be advisory or a recommendation; and not merely informational in nature, the same is in any event provided with the intention of being for general circulation and availability only. As such it is not intended to and does not form part of any offer or recommendation directed at you specifically, or have any regard to the investment objectives, financial situation or needs of yourself or any other specific person. Before committing to a trade or investment therefore, please seek advice from a financial or other professional adviser regarding the suitability of the product for you and (where available) read the relevant product offer/description documents, including the risk disclosures. If you do not wish to seek such financial advice, please still exercise your mind and consider carefully whether the product is suitable for you because you alone remain responsible for your trading – both gains and losses.
MT steel sector
Shares of several steel companies are trading higher, potentially amid US infrastructure optimism and outlook for an economic recovery, both of which could lift demand. Additionally, ArcelorMittal (MT) reportedly raised flat steel price offers.
Steel Stocks Higher Friday: US Steel Up 8%, Nucor Up 7%, Arcelor Mittal Up 6%, Steel Dynamics Up 5%(Benzinga)
While I don't buy the news... it can confirm my observations.
03-26-2021 Buying with a small position (30%) due to market conditions. MT is in the metals and mining steel sector. Also, bought SLX ETF. All key stocks in this EFT have positive YTD return.
YOY Earnings 67.4%
Qtly: 57.89%
Others in sector up
For educational purposes only... not trading advice.
Arcelor mittal (MT) back in old channelHi,
Arcelor Mittal doubled from 10 to 20 in less than 4 months. The strong uptrend didn't make any correction, till it reached the upperband of the channel that is used to trade in.
From that point it corrected perfectly fine to a decent Fibonacci level.
What we see right now is that it seems to have bottomed at 16.85 levels.
The DRSI looks oversold and the on balance volume is still moving upwards.
MACD looks perfectly fine, which makes a trade possible.
Entry: 16.85 - 17.88
Target: 21.50
Stoploss: 16.30
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
Mt Gox BurnsScheduled september 18th
Mt. Gox was a bitcoin exchange based in Shibuya, Tokyo, Japan. Launched in July 2010, by 2013 and into 2014 it was handling over 70% of all bitcoin transactions worldwide, as the largest bitcoin intermediary and the world’s leading bitcoin exchange.
In February 2014, Mt. Gox suspended trading, closed its website and exchange service, and filed for bankruptcy protection from creditors. In April 2014, the company began liquidation proceedings.
Nobuaki Kobayashi, the lawyer and trustee of the Mt Gox bitcoin exchange has revealed that he sold bitcoin and bitcoin cash worth more than $400 million over the past few months since September last year. The Mt Gox trustee currently holds about 166 344,35827254 BTC.
The next court proceeding for Mt Gox bankruptsy won’t happen until September 18, 2018. Before then Nobuaki Kobayashi will not have authorization to dump the remaining 166 344 BTC on open market.
You Gox to Be Kidding MeFor those who don't know, the now defunct Mt Gox exchange has begun liquidating their BTC and BCH assets. They have roughly 137,000 remaining of each according to the Mt Gox Cold Wallet Monitor.
The most recent sells were on 4/26 and 5/10 and both affected the price noticeably. If they are selling like clockwork, we should see a giant red dildo hit the charts on or around 5/24. Just a heads up, nobody knows their selling strategy for fact. I highly recommend watching Mt Gox's wallets so you can brace for impact.
Keep an eye on the cold wallet addresses here: www.cryptoground.com
Also a little fun math:
8k per sell
137k total
16 Biweekly periods before 2019
137 / 8 = 17.125
So if they sell 8k biweekly, they will have zero left at the very end of 2018 or beginning of 2019. Seems pretty M A T H E M A T I C A L to me.
Happy trading :)
-Doge
MT Bullish SwingGap and go today. Also completely filled the bearish gap from 4/12. If we break today's high, I think there is a good chance it continues higher. The one major roadblock to that is the 50 EMA. At the very least, I think it'll pause around the 50.
This is an above average risk trade solely because we are right in the middle of a channel. That is part of the reason I want it to break today's high before entering.
MT Bullishing Swing UpdateMT did not pull back as far as I hoped. But, still a great bullish gap the other day to try and take advantage of. I've updated the entry from 7.68 to 7.85 and moved the stop up to 7.53. I want this to trigger by EOD Wednesday 12/14/16. If it does not trigger by then, I will cancel. 3:1 Risk to Reward if it works out.