ArcelorMittal Share Reaches 5-Year High
After finishing as the weakest performer on the CAC 40 the previous day, ArcelorMittal orchestrates a spectacular turnaround on Thursday and ranks among the strongest gainers on the Paris index. The steelmaker has reached a new five-year high during the session, in a Paris market that is otherwise losing ground.
Five-Year High Achieved as CAC 40 Declines 0.36%
The stock touched €65.74 during the session, erasing the previous five-year record set at €65.70. The current price has retreated to €64.96, but the upward momentum remains intact: the daily gain stands at 1.09% while the CAC 40 falls 0.36% and the SBF 120 declines 0.24%. This counter-trend movement places ArcelorMittal among the strongest gainers on the CAC 40 for the session.
Over the past year, the stock shows an advance of 136.2%, and nearly 7% over the month, a dynamic that remains steady despite recent fluctuations. The context remains turbulent: the resumption of strikes between Iran and the United States around the Strait of Hormuz propelled Brent above $95 per barrel on Thursday, a gain of 5.43% for the session that increases the risk premium across all asset markets. The surge in sovereign bond yields — the 10-year UK gilt reached 5.268%, a high since 2008, and the 10-year US Treasury approaches 4.8% — is also weighing on European equity indices.
ArcelorMittal Firmly Anchored Above Its Three Moving Averages, RSI Balanced at 59
The moving average configuration is clear and coherent with the stock's multi-year progression. The price is trading above the 20-day MA at €63.42 (spread of 2.43%), above the 50-day MA at €59.86 (spread of 8.52%) and well above the 200-day MA at €51.01 (spread of 27.35%). This triple positioning above the moving averages confirms an uptrend established across all three timeframes. The RSI at 59 remains in neutral territory, with no overbought signal despite the annual amplitude of the rally, which leaves room before any tight configuration.
The next identified level is the €65 threshold, a round psychological level that the stock just approached by touching €65.74 intraday. The immediate support, a former broken resistance, is established at €57.78. During the publication of Q1 2026 results in late April, the group maintained its full-year guidance unchanged, anticipating volume growth and positive cash flow for the fiscal year.
