Long Position on MT @ $27.30 on 9/1/2017 (Momentum)

ArcelorMittal (MT) owns and operates steel manufacturing and mining facilities.

The company operates through five segments: NAFTA, Brazil, Europe, ACIS, and Mining.

It produces finished and semi-finished steel products with various specifications. The company's principal steel products include semi-finished flat products, such as slabs; finished flat products comprising plates, hot- and cold-rolled coils and sheets, hot-dipped and electro-galvanized coils and sheets, and tinplate and color coated coils and sheets; semi-finished long products, such as blooms and billets; finished long products, including bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.

Its principal mining products comprise iron ore lump, fines, concentrate, pellets, and sinter feed; and coking, pulverized coal injection, and thermal coal. The company provides its steel products to the automotive, appliance, engineering, construction, energy, and machinery industries. It sells its products in local markets and through a centralized marketing organization in approximately 160 countries.

It has iron ore mining activities in Brazil, Bosnia, Canada, Kazakhstan, Liberia, Mexico, Ukraine, and the United States; and coal mining activities in Kazakhstan and the United States.

Shares have formed a bullish "cup and handle" and higher share prices are expected for this stock. Note the 30-day moving average shown on the chart. 

52-Weeks Trading Range: $16.14 - 28.11

Entry Point:    $27.30

Stop Loss:   $25.70

Target Price: $30.25

Updates

9/25/2017 9:40:56 AM

MT closed at $25.35

Position closed on 9/25/2017 at price of $25.35 with a -7.14% loss in 24 days.

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