ArcelorMittal (MT) : The money flow analysis of ArcelorMittal (MT) indicates a $19.93 million of outflow was on downticks, whereas, the investors on Monday gobbled up stocks worth $34.87 million on upticks. The ratio between the upticks and downticks was clearly in favor of the bulls at 1.75 and so was the total money flow at $14.94 million. A solid up-down ratio of 3.91 in block trades indicates that the investors are accumulating the stock on weakness. The bulls lapped up $21.12 million worth of block trades on upticks. Only $5.4 million worth of the stock exchanged hands on downticks. The money flow was $15.72 million in block trades, underlining the interest of the bulls in the stock even when the stock was declining.However, the price action shows that the bears had an upper hand in the stock of ArcelorMittal (MT), pushing it down by -4.6% for the day. The stock slid $0.29 and traded at $6.02 during the day. Nonetheless, the stock is -6.81% over the previous weeks close.
ArcelorMittal has dropped 2.79% in the last five trading days, however, the shares have posted positive gains of 11.35% in the last 4 weeks. ArcelorMittal is up 33.9% in the last 3-month period. Year-to-Date the stock performance stands at 48.82%.
ArcelorMittal (NYSE:MT): During Mondays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $6.16 and $6.15 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $6.32. The buying momentum continued till the end and the stock did not give up its gains. It closed at $6.28, notching a gain of 4.32% for the day. The total traded volume was 9,964,967 . The stock had closed at $6.02 on the previous day.
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.