ArcelorMittal “has a technical aspect that I don’t like”

ArcelorMittal “has a technical aspect that I don’t like”

ArcelorMittal accumulates losses of more than 23% on the stock market so far this year.

All the lateral that had consolidation after a previous rise section, seemed to break it downwards and carried out “the typical pull back”, according to JosΓ© Luis Herrera, of Global Investment Bank (BiG). In the case of losing the previous lows, at 20.50 euroscould cause the value to continue to fall.

At the top, as long as the value does not exceed the zone of the 25.20 euroswhich has left in mid-August, “the danger, from the technical point of view in the short term”, is still present”.

ArcelorMittal
ArcelorMittal

“I would watch the level of 20.50 below and the level of 25.20 above,” says the expert.

According to the technical indicators of Investment Strategies for ArcelorMittalthe value would be in a bearish phase, and has a score of 1 out of 10.

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