Possible Double-Bottom Pattern for ArcelorMittal
Luxembourg-based steel manufacturer ArcelorMittal (NYSE: MT) has struggled in 2018 and the stock is down just over 23% on a year to date basis. While that isn’t terrible given how many stocks in the materials sector have struggled, but there could be something in the chart that is a good sign for Arcelor.
Looking at the daily chart, we see that the stock hit a low at $23.80 back on October 26. The stock bounced from there, but then slipped again over the last few weeks. However, the stock hit a low of $23.83 on November 13 and that could be a double-bottom pattern for the stock.
For the pattern to be completed, the stock will need to rise above the high between the two lows. In the case of Arcelor, it will need to move above $26.34. There is still resistance looming overhead at the $28 level, but that is 12.9% above yesterday’s closing price.
Arcelor’s fundamental measurements are all over the place. Earnings have grown by 271% per year over the last three years, but the most recent quarter showed an earnings decline of 25%.
The return on equity is 13.3%, the profit margin is 6.6%, and the operating margin is 9.7%. All of those figures are average to below average.
The fundamentals and the long-term technical picture might not allow the stock to jump too much, but the short-term technical picture suggests that we could see a decent bounce.
MT in downward trend: price dove below 50-day moving average on July 07, 2026
MT moved below its 50-day moving average on July 07, 2026 date and that indicates a change from an upward trend to a downward trend. In of 41 similar past instances, the stock price decreased further within the following month. The odds of a continued downward trend are .
Technical Analysis (Indicators)
Bearish Trend Analysis
The 10-day RSI Indicator for MT moved out of overbought territory on June 05, 2026. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 43 similar instances where the indicator moved out of overbought territory. In of the 43 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Stochastic Oscillator has been in the overbought zone for 1 day. Expect a price pull-back in the near future.
The Momentum Indicator moved below the 0 level on July 07, 2026. You may want to consider selling the stock, shorting the stock, or exploring put options on MT as a result. In of 72 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for MT turned negative on June 08, 2026. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 43 similar instances when the indicator turned negative. In of the 43 cases the stock turned lower in the days that followed. This puts the odds of success at .
The 10-day moving average for MT crossed bearishly below the 50-day moving average on June 30, 2026. This indicates that the trend has shifted lower and could be considered a sell signal. In of 15 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where MT declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for MT entered a downward trend on July 08, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Bullish Trend Analysis
Following a +1 3-day Advance, the price is estimated to grow further. Considering data from situations where MT advanced for three days, in of 327 cases, the price rose further within the following month. The odds of a continued upward trend are .
Fundamental Analysis (Ratings)
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (0.866) is normal, around the industry mean (2.480). P/E Ratio (16.547) is within average values for comparable stocks, (100.388). MT's Projected Growth (PEG Ratio) (0.000) is very low in comparison to the industry average of (2.061). Dividend Yield (0.009) settles around the average of (0.023) among similar stocks. P/S Ratio (0.779) is also within normal values, averaging (2.105).
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 71, placing this stock better than average.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. MT’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Advertisement
General Information
an operator of mines, manufactures and distributes carbon steel and stainless steel products
Industry Steel
Advertisement