ArcelorMittal Shares Rise 1.51% at Midday on December 29
ArcelorMittal's stock price reached 39 euros at midday on December 29, marking a 1.51% increase from the previous day's close at 38.42 euros. This rise occurs in a favorable context for the steelmaker, which has recorded a performance of 2.39% over seven days and 24.09% over three months. The trading volume remains moderate with only 0.04% of the capital traded. The stock is now immediately approaching its resistance threshold at 39.25 euros, a significant technical level that could hinder short-term progress. The 50-day moving average at 35.50 euros indicates a distant support base, while the RSI at 66 suggests a situation close to excessive optimism without yet entering an overbought zone, still allowing room for upward movement.
The industrial context remains marked by the resumption of production at Fos-sur-Mer, where the steel mill restarted a few days ago following an October fire, a positive operational signal. Additionally, the first three lines of the new electric steel production facility at Mardyck are expected to be operational by the end of 2025, as part of a 500 million euros investment. These announcements reinforce the group's industrial strategy, although social tensions and debates over nationalization linger in the background. From the analysts' perspective, opinions remain predominantly constructive. JP Morgan maintains an overweight rating with a target price raised to 45 euros at the beginning of December, suggesting a potential upside of about 15% from the current level. The cautious approach of investors at the end of the year does not prevent the stock from extending its positive sequence, supported by solid fundamentals and an attractive valuation.
