ArcelorMittal Technical Analysis (NYSE:MT)
Technical analysis relies on the belief that future price movements of a stock can be forecasted through the study of historical market data and technical charts. The ArcelorMittal stock price data and volume are plotted in MT stock charts and these trading charts form the basis of technical analysis.
View technical indicators like moving averages - SMA and EMA, and bollinger bands for ArcelorMittal. Technical analysis uses an approach for ArcelorMittal stock analysis that does not care for the fair value of a company but uses price and volume data only.
ArcelorMittal Moving Average
Moving averages help predict the price direction of MT stock based on certain triggers, but with a lag, and form building blocks for other technical indicators like the MACD and bollinger bands. The 20 day moving average of $30.87 is above the last closing price of $29.1 and the 50 day moving average of $30.8 is above the last closing price of $29.1. The 10 and 20 day periods can predict short term moving average trends.
ArcelorMittal Bollinger Bands
Bollinger Bands were developed by the famous technical trader John Bollinger and are a measure of the volatility of a stock like the MT stock. Currently the stock price of $29.1 is in the lower range of ArcelorMittal bollinger bands.
ArcelorMittal Moving Average Convergence Divergence or MACD
The moving average convergence divergence or MACD is a technical indicator which helps assess the stock price trend. Traders usually wait for a confirmed crossover signal before entering into a trading position. Divergence implies that the current stock price trend could come to an end, when the stock price diverges from MACD. The ArcelorMittal MACD indicator is below 0 indicating a bearish trend.
ArcelorMittal Relative Strength Index
The RSI technical indicator is a momentum oscillator. It compares the speed and change in price movements. If the RSI of MT stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position.