ArcelorMittal Stock: 2% Decline After a Spectacular 60% Rally Over Three Months

Technical Analysis of the Day's Decline

The decline observed this Thursday on ArcelorMittal brings the price just below the resistance identified at 55.94 euros, a level that precisely corresponded to the previous day's close. This zone now constitutes a key technical threshold: a sustained crossing would validate the continuation of the upward momentum, while a failure could initiate a consolidation phase. The RSI, an indicator measuring the speed and magnitude of price movements, is at 73, above the threshold of 70 generally considered as signaling an overbought zone. This reading reflects the intensity of the recent rally, which has pushed the stock far from its 50 and 200-day moving averages, positioned at 43.41 euros and 33.36 euros respectively. The considerable gap between the current price and these trend markers illustrates the rapid appreciation of the stock since the end of 2025.

Morgan Stanley's Updated Price Target

In a note dated February 17, Morgan Stanley significantly raised its price target on the Luxembourg-based steelmaker, increasing it from 46.20 euros to 54.30 euros, while maintaining an 'overweight' recommendation. However, this new target is slightly below the current price of 54.78 euros, which reduces the implied upside potential to almost nil at the time of publication. This increase in target reflects the gradual reevaluation of the stock by research firms, following the strong market revaluation in recent months. The next quarterly results, expected on April 30, 2026, will be a major event to assess whether the operational fundamentals of the group justify the valuation levels reached. The second quarter will be published on July 30.