ArcelorMittal Stock: Shares Approach Resistance After a 60% Surge in Three Months
ArcelorMittal SA's stock is up 2.16% this Wednesday morning, trading at 54.84 euros, continuing a notable upward trend for several weeks. The stock is now very close to its technical resistance level, following a significant target price upgrade by Morgan Stanley.
Morgan Stanley Raises Target Price
American bank Morgan Stanley has revised its target price for ArcelorMittal SA upwards, increasing it from 46.20 to 54.30 euros, while maintaining an 'overweight' recommendation. This revision, dated February 17, reflects a substantial reevaluation of the potential of the Luxembourg-based steelmaker. At the current price of 54.84 euros, the stock is slightly above the new target set by the institution, representing a negative gap of about 1%. Over the past year, the stock's performance has reached nearly 97%, a trajectory that justifies this update in valuations by analysts. The upcoming quarterly results, expected on April 30, 2026, will be an important milestone to confirm or refute the fundamental trajectory of the group.
Approaching Resistance Level
With a price of 54.84 euros, ArcelorMittal is less than 1% away from its resistance threshold set at 55.24 euros. A sustained breach of this level could open a new trading plateau, while failure could indicate a possible consolidation phase. The RSI, a momentum indicator that measures the speed of price movements, is at 70, entering the overbought zone: this level indicates sustained buying pressure, but also signals that the stock might pause after its recent acceleration. The 50-day moving average, at 43.02 euros, is significantly below the current price, confirming the strength of the bullish trend that has been established in recent months. The significant gap between the price and this medium-term reference, around 27%, illustrates the magnitude of the movement since the end of 2025, a period during which the stock gained more than 60% in just three months.
