ArcelorMittal Shares Soar 3.5%, Marking the Top Gain in the CAC 40
The Luxembourg-based steelmaker partially recovers its monthly decline, marking the strongest rebound in the CAC 40 in early afternoon trading. This movement follows several sessions of consolidation that had brought the stock below its short-term moving averages.
A Rebound That Puts ArcelorMittal at the Forefront of the CAC 40 Amid a Buoyant DAX
ArcelorMittal shares climb 3.57% to €53.34, leading the CAC 40, which is up by 0.54%. The stock stands out from the pack, ahead of Schneider Electric (+2.91%) and Safran (+2.53%). The rebound benefits from a supportive European environment, with the DAX soaring by 1.52% and the FTSE 100 up by 1.17%, while the VIX relaxes to 17.5 (-4.94%).
The steelmaker thus regains momentum after shedding nearly 10% over a month, a period during which it had fallen below its 50-day moving average (MM50) in recent sessions. This movement should be viewed in the context of an annual performance close to 98%, one of the most significant in the Parisian industrial sector.
Technical Rebound in Oversold Territory, Under Still Unfavorable Moving Averages
In terms of indicators, the stock has moved back above its support at €51.26, tested in recent days, while the RSI at 35 indicated seller exhaustion. The price remains below the 20-day moving average (MM20) at €57.20 (-6.75%) and the 50-day moving average (MM50) at €54.92 (-2.88%), two thresholds that buyers have not yet reclaimed. The negative MACD (-0.79) confirms that the short-term trend remains weak despite today's rebound.
In the longer term, the price is still significantly above its 200-day moving average (MM200) at €44.51 (+19.84%), reflecting the rally accumulated over the past year. As a reminder, on June 22, ArcelorMittal announced a partnership with AWS to deploy AI and cloud technology across its sites in 14 countries. The next concrete step remains the technical resistance identified at €62.14.
