ArcelorMittal Shares Bounce Nearly 3%, Leading the CAC 40
The Luxembourg-based steelmaker rebounds mid-session after a lackluster week that brought the stock back to its 20-day moving average. Today's gain is part of a well-oriented CAC 40. The stock is revisiting levels it had dropped from earlier in the week.
ArcelorMittal Stock Up 2.48% at €57.08, Among Top CAC 40 Gainers
ArcelorMittal's stock gains 2.48% to €57.08, marking one of the highest increases in the CAC 40, which is up by 0.81%. This movement brings the stock back to its 20-day moving average (€57.21), which it had dipped below at the start of the week. However, the seven-day outlook remains negative (-6.82%), reflecting the consolidation phase that began after the late May peak. The annual performance still shows significant growth: +114% over the year, with the price remaining about 34% above its 200-day moving average (€42.73), indicating a strong underlying trend despite recent softening.
Neutral RSI, Declining MACD: Digestion Phase Continues
An RSI at 49 indicates a stock without significant buying or selling pressure following the spring rally. The MACD remains in positive territory but below its signal line (1.44 versus 1.84), suggesting that the bullish momentum has waned since the May peak. Today's rebound brings the price back to the vicinity of the MM20 without clearly surpassing it: this area around €57.20 will act as the first critical point for the continuation of the movement. Higher up, the technical resistance is identified at €62.14, a level approached during the late May record. Lower down, the first support is at €47.59. The stock is moving in a context of contained volatility (11.6% over a month), consistent with a digestion phase rather than a trend break.
