Arcelor Mittal stock: buy or sell

MT stock price: $29.41 2.40% At close on Apr 21st, 2021

Updated on:
Apr 22nd, 2021

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Arcelor Mittal stock brief

  • Arcelor Mittal stock climbed 2.40% to close at $29.41 on the stock market on Wednesday.
  • The stock is configuring an uptrend pattern since May 2020, when it bottomed at $7.58. This uptrend marked a 287.99% gain
  • ArcelorMittal, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia, and Africa.

Should I buy Arcelor Mittal stock?

All successful traders recommend adhering to a trading strategy and not make decisions based on subjective opinions, rumors or feelings. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best

Is $MT stock a buy?

Currently, Arcelor Mittal stock doesn't match any of these trading strategies, so our recommendation is not to buy now. This doesn't mean $MT will slide in coming sessions, or it will not rise higher. Simply, it doesn't match our recommended trading systems

Should I sell Arcelor Mittal stock?

When you own a stock with some profit, it's really hard to decide the good moment to sell and get your benefits. Trading strategies prevent us from making impetuous decisions based on our moods or the buzz that surrounds the market. When selling, as well as buying, our setups are very simple to use but are only applicable for selling stocks in your porfolio, not for shorting Arcelor Mittal stock

As a rule of thumb, you should never keep a trade that produces greater losses than those expected at the time of the buy. The timing to sell your stock must always be determined by the stop-loss (automatic or manual)

Is it time to sell Arcelor Mittal stock?

In the current situation of Arcelor Mittal there is not any eligible sell setup, so Arcelor Mittal stock holders with operations in profit can keep their positions

Arcelor Mittal ratings

In the last 30 days, 5 ratings were published for Arcelor Mittal. General sentiment is bullish, with 5 out of 5 publishing positive outlooks

Arcelor Mittal analysts' ratings - Last 30 days
Brokerage firmRating
Mar 24th, 2021
Morgan Stanley Buy
Apr 9th, 2021
Morgan Stanley Buy
Apr 12th, 2021
UBS Group Strong buy
Apr 13th, 2021
Deutsche Bank Aktiengesellschaft Strong buy
Apr 15th, 2021
JPMorgan Chase & Co. Buy

Arcelor Mittal stock analysis

Since in May 2020, Arcelor Mittal has been printing an uptrend that so far marked an amazing 287.99%. During this uptrend, the price provided some entry points on the breakouts. Latest low was last January, when price bounced at $20.50. Like in all uptrends, price needs to rest and now price is consolidating the gains in a range between $30.46 and $20.50

SMAs overview

MT stock SMAs chart

Supports and resistances

The current resistances are:

  • R1: $29.62 (0.71% above)
  • R2: $30.06 (2.21% above)
  • R3: $30.46 (3.57% above)
  • The current supports are:

  • S1: $28.71 (-2.38% below)
  • S2: $27.97 (-4.90% below)
  • S3: $27.91 (-5.10% below)
  • Bollinger bands

    MT stock Bollinger Bands chart

    Relative strength index

    When the moves for so long below 70 and above 30, without any indication of overbought and oversold, the indicator becomes of little use, and we are now in one of these situations.

    MT stock RSI chart

    Arcelor Mittal stock price history

    Arcelor Mittal went public priced at an adjusted price1 of $66.04 on Aug 1997. Since then, MT stock depreciated by -55.47%. An investment of thousand dollars on the IPO would be valued $445.34 today.

    1: Adjusted price after possible price splits or reverse-splits

    MT stock price history chart

    Price target for Arcelor Mittal stock

    Nobody can predict how much a stock will be priced tomorrow. However, many stock price forecasts are published every day by banks, financial institutions and independent analysts.

    Along with buy or sell recommendations, brokerage institutions publish their price target based on the stock price action and the company fundamental data. Most of these predictions follow the release of new financial data by the company, and usually. If you are a small investor you must not invest based on these price targets.

    There is just one price target available for Arcelor Mittal that forecasts a price of $36.00.

    Arcelor Mittal stock price predictions
    Brokerage firmPrice target
    Mar 24th, 2021
    Morgan Stanley Not available
    Apr 9th, 2021
    Morgan Stanley Not available
    Apr 12th, 2021
    UBS Group Not available
    Apr 13th, 2021
    Deutsche Bank Aktiengesellschaft $30.00$36.00
    Apr 15th, 2021
    JPMorgan Chase & Co. Not available

    Earnings and financials

    ArcelorMittal ($MT) came out with quarterly earnings of $0.19 per share last February, strongly uplifting the analysts consensus estimate of $0.08 per share. This Q4 report means an earnings surprise of 137.50%. Predicted revenue for this quarter was $15.7 billion but Arcelor Mittal slightly missed by 9.77%, reporting $14.2 billion.

    In contrast, the EPS for the same quarter last year was $-0.22, so current EPS means a increase of 186.36%. Looking at sales, figures went down a -8.57% compared to $155.1B same quarter a year ago.

    Arcelor Mittal ($MT) presents Q1 financial report next Thursday.

    Arcelor Mittal performance

    MT performance compared
    Company1m3m6m
    Arcelor Mittal ($MT) 11.50% 24.90% 103.50%

    Important:
    The opinions given in this article are personal and not recommendations for you to buy or sell stocks. The author of this document does not have any knowledge of the individual positions of the reader, his or her financial statements or his or her own best interests at any given time. All users should speak with their financial advisor before buying or selling any securities Comments are posted for general educational motives only

    Arcelor Mittal summary

    Wednesday, April 21st, 2021
    Open$28.56
    Close$29.41
    Day range$28.25 - $29.48
    Previous close$28.72
    Session gain2.40%
    Average true range$0.91
    50d mov avg$26.41
    100d mov avg$24.38
    200d mov avg$18.75
    Earnings dateMay 6th, 2021

    Frequently asked questions

    What is Arcelor Mittal stock symbol?

    ArcelorMittal is a public company trading in the US stock market with the MT symbol

    Is Arcelor Mittal stock a buy or sell?

    Arcelor Mittal received 5 ratings in the last 30 days: 5 bullish, 0 bearish and 0 neutral.

    Will MT go up?

    Arcelor Mittal had different price forecasts published by analysts in the last month forecasting the target price to $36.00. That is a 22.41% than the last price ($29.41).