ArcelorMittal Shares Surge 6.32% Over the Week, Driven by Sustained Upward Momentum
ArcelorMittal closed the week at 37.18 euros, marking a 6.32% increase over the last five trading days. This performance significantly outpaces major stock indices, with the CAC 40 up by 1.78% and the SBF 120 by 1.87% over the same period. Over a longer horizon, the stock has seen an impressive 60.6% increase over the past year, indicating a significant revitalization momentum.
Weekly Performance as Part of a Broader Revitalization Trend
The gains recorded this week are part of a broader revitalization of the stock price. On Tuesday, November 25, the stock rose by 3.61%, crossing the 36 euros mark with a trading volume of 2.6 million shares. The momentum continued on Wednesday with a 1.79% increase to 37.06 euros, bringing the price close to its weekly high of 37.12 euros. After a minor correction on Thursday (-1.11%) that brought it down to 36.65 euros, the stock resumed its upward movement on Friday, closing at 36.83 euros before further advancing beyond 37.18 euros. This sequence of bullish sessions, interspersed with brief consolidation, reveals a persistent appetite for the stock. This week also marked an acceleration compared to previous performances. Over a month, ArcelorMittal has progressed by 7.87%, over three months by 29.12%, and over six months by 35.58%. The group's valuation reflects this positive dynamic: the P/E ratio for 2025 stands at 8.89x and for 2026 at 8.58x, placing the stock in a relatively accessible zone for investors considering the normalization of steel margins. The stock is traded at an enterprise value to revenue ratio of 0.64x for 2025 and 0.60x for 2026.
Technical Analysis Shows Mixed Strength Signals
From a technical standpoint, ArcelorMittal displays mixed signals of strength. The stock is now in overbought territory according to the RSI indicator, which stands at 70, suggesting a consolidated or even exuberant bullish dynamic in the short term. The 50-day moving average is at 33.46 euros, significantly exceeded by the current price, while the 200-day moving average at 28.99 euros underscores the long-term bullish trend. The Bollinger Bands place the price almost at the upper band at 37.29 euros, indicating a tightened volatility around high levels. The MACD Line is positive at 0.83, confirming the bullish direction. In terms of pivot levels, the resistance is established at 37.18 euros, precisely where the stock closed on Friday, while the support is at 32.40 euros, offering a notable range of movement. The monthly volatility measured at 7.68% remains moderate, characteristic of a less turbulent asset class than the average stock market.
