TMCnet News
ArcelorMittal Falls 2.56% on Heavy Volume: Watch For Potential ReboundFeb 25, 2013 (SmarTrend(R) News Watch via COMTEX) -- ArcelorMittal (NYSE:MT) traded in a range yesterday that spanned from a low of $14.87 to a high of $15.74. Yesterday, the shares fell 2.6%, which took the trading range below the 3-day low of $15.05 on volume of 15.9 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision. SmarTrend is monitoring the recent change of momentum in ArcelorMittal. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of ArcelorMittal in search of a potential trend change. In the past 52 weeks, shares of ArcelorMittal have traded between a low of $13.28 and a high of $22.15 and are now at $14.87, which is 12% above that low price. The 200-day and 50-day moving averages have moved 0.15% lower and 0.14% lower over the past week, respectively. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |