Based on the latest market data and news, here's a concise analysis for MT stock:
Technical Analysis
The stock is currently trading at $28.12, showing a positive regular market movement of +1.01% today. The stock is trading above its pivot point of $26.01, with key resistance levels at $28.00 and $29.22.
Recent Market Impact
A significant development affecting MT stock is Trump's announcement of new 25% tariffs on all steel and aluminum imports. This news has caused mixed reactions in the market:
- European steelmakers including ArcelorMittal saw share prices decline by 1.3%-2.5%
- U.S. steel competitors saw significant gains (6%-10% increases)
Analyst Perspective
Deutsche Bank recently raised their price target for MT to $33 from $31 while maintaining a Buy rating, citing strong Q4 performance that "rebases its trough cycle performance to a higher level".
Short-term Outlook
The stock appears to be in a technically strong position with an RSI of 71.86, though this suggests it may be approaching overbought territory. The MACD indicator at 0.87 confirms positive momentum.
Based on the technical indicators and recent analyst upgrade, despite potential headwinds from new U.S. tariffs, MT stock shows a bullish trend and could be considered a buy at current levels, with a near-term target of $33 as suggested by Deutsche Bank.