Large Outflow of Money Witnessed in ArcelorMittal

ArcelorMittal (MT) : Money flow in the ArcelorMittal (MT) stock was negative (0.66 million) on Friday, which shows that the investors used the strength in the stock price to reduce their holdings. The total traded value on upticks was $0.46 million, compared to $1.12 million on downticks. The total uptick to downtick ratio was 0.41, indicating the underlying weakness in the stock. Even in block trades, money flow was negative ($0.66 million), indicating selling on the strength. Downtick transaction value in block trades amounted to $0.66 million, indicating persistent selling. ArcelorMittal (MT) traded $0.04 higher at $5.58 gaining 0.63% over the previous days close.


ArcelorMittal (MT) : 5 investment research analysts covering ArcelorMittal (MT) have an average price target of $6.38 for the near short term. The highest target price given by the Brokerage Firm to the stock is $7 and the lowest target is $6 for the short term. Analysts expect the variance to be within $0.64 of the average price.

ArcelorMittal (NYSE:MT): stock turned positive on Friday. Though the stock opened at $5.63, the bulls momentum made the stock top out at $5.72 level for the day. The stock recorded a low of $5.57 and closed the trading day at $5.71, in the green by 3.07%. The total traded volume for the day was 10,742,197. The stock had closed at $5.54 in the previous days trading.

ArcelorMittal SA (ArcelorMittal) is a holding company. The Company is a steel and mining company, which operates through five segments: NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining. The Company produces a range of finished and semi-finished steel products. Specifically, it produces flat steel products, including sheet and plate, and long steel products, including bars, rods and structural shapes. In addition, the Company produces pipes and tubes for various applications. The Company also produces various types of mining products, including iron ore lump, fines, concentrate and sinter feed, as well as coking, pulverized coal injection (PCI) and thermal coal. The Companys subsidiaries include ArcelorMittal Dofasco Inc., ArcelorMittal Montreal Inc., ArcelorMittal Point Lisas Ltd., ArcelorMittal Belgium N.V. and ArcelorMittal South Africa Ltd., among others.

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