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 upward trend: price may ascend as a result of having broken its lower Bollinger Band on March 05, 2026
MT may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options. In of 34 cases where MT's price broke its lower Bollinger Band, its price rose further in the following month. The odds of a continued upward trend are .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 3 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where MT advanced for three days, in of 326 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 258 cases where MT Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The 10-day RSI Indicator for MT moved out of overbought territory on February 24, 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 41 similar instances where the indicator moved out of overbought territory. In of the 41 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Momentum Indicator moved below the 0 level on March 03, 2026. You may want to consider selling the stock, shorting the stock, or exploring put options on MT as a result. In of 77 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 February 26, 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 46 similar instances when the indicator turned negative. In of the 46 cases the stock turned lower in the days that followed. This puts the odds of success at .
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 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 (0.780) is normal, around the industry mean (1.491). P/E Ratio (13.584) is within average values for comparable stocks, (97.650). MT's Projected Growth (PEG Ratio) (0.000) is very low in comparison to the industry average of (1.328). Dividend Yield (0.013) settles around the average of (0.039) among similar stocks. P/S Ratio (0.697) is also within normal values, averaging (1.266).
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 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.
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General Information
an operator of mines, manufactures and distributes carbon steel and stainless steel products
Industry Steel
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