Arcelormittal is up a bit on the day, funds flowing in kept the price up 2.49% since yesterday. It looks like MT may be interacting with an upward sloping support line. These can create nice entry points since it can have both momentum and support. If we also take into account the strong positive momentum that Arcelormittal has shown over the last year. A lot of buyers typically come in on dips to bid the price up. It certainly increases the
likelihood of getting a nice bounce off of this particular resistance line. Looking back at the previous year, the asset has returned 131.48 percent back to its shareholders, not too bad!
If we get a reversal off of support and Arcelormittal starts moving up, it can probably get to $67.12 at which point it'll need to break through that resistance level in order to keep moving higher. If it fails to bounce off this level and breaks down lower, it will most likely find the nearest support a the $59.17
at which point, it may have a chance of recovering from there.
How to use: use the research links to research the asset. Then simply type in a score for each category between (01, 02, 03, 04, 05). 05 being the most bullish and 01 being the most bearish. It will automatically calculate the average and combine it with the technical score to create an overall score to rank prospects by. You can also type notes into each field.
