ArcelorMittal Stock Falls Below Technical Threshold Despite +20% Potential According to Oddo BHF
The stock of the steel giant fell mid-morning to €49.92, after closing at €50.74 the previous day. This decline occurs in a mixed European market context, with the CAC 40 slightly up by 0.20% during the session while the DAX drops by 0.10%. The publication of the first quarter 2026 results, scheduled for April 30, is the next major event for shareholders.
Oddo BHF Raises Price Target for ArcelorMittal
On April 8, the analysis firm Oddo BHF increased its price target on ArcelorMittal, raising it from 58 to 60 euros, while maintaining its 'outperform' recommendation. At the current price of €49.92, this target represents an appreciation potential of about 20%. This increase is part of a remarkable performance context for ArcelorMittal SA over one year: the stock has shown a growth of 127.9% over twelve months and 23.63% over three months. Despite the day's decline, the stock still gained 9.33% over the last week, indicating a bullish momentum that is not undermined by this Friday's drop.
Technical Indicators Show Continued Support
The 50-day moving average, at €48.39, continues to act as a support point: the stock is still 3% above this threshold, indicating that the medium-term trend is not threatened at this stage. The RSI, at 34, is approaching the oversold zone (generally under 30), reflecting selling pressure accumulated in recent sessions. In the Bollinger Bands, the price is in the middle of the channel, between the lower bound at €39.76 and the upper bound at €59.41, with no extreme signals. The next identified support is at €42.01, while the key resistance remains at €56.92. The one-month volatility stands at 10.72, a relatively contained level for a cyclical stock of this profile.
