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After Yesterday's Decline of 2.56%, ArcelorMittal Offers Investors Better Value
Feb 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.
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. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.
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.
Write to Chip Brian at cbrian@mysmartrend.com
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