MT Price Prediction Next Week
Technical Analysis: Based on the latest data, MT closed at $28.57 on Friday (2025-02-14) with RSI-14 at 68.39, indicating a slightly overbought condition. The stock is trading above all major moving averages (SMA 5/10/20/60/200), suggesting a strong upward trend.
Price Levels and Indicators:
- Current support level: $28.42 (Friday's low)
- Resistance level: $28.98 (Friday's high)
- Fibonacci levels show next resistance at $28.96, with strong support at $24.58
- MACD is positive (1.31) with positive histogram (0.36), indicating bullish momentum
- Stochastic RSI (70.38) suggests overbought conditions
News Impact Analysis:
- Recent news about Trump's potential reciprocal tariffs could significantly impact MT. The steel sector might face increased volatility due to these trade policy uncertainties.
- Options market shows moderate bullish sentiment with $29 strike calls having 50% probability of expiring worthless by April 4th.
- JPMorgan recently raised their price target to EUR 23.50, maintaining a Neutral rating.
Price Prediction for Next Week: Based on technical indicators and news sentiment:
- Bullish scenario (40% probability): $29.20-29.50
- Neutral scenario (45% probability): $28.30-28.80
- Bearish scenario (15% probability): $27.80-28.20
Trading Recommendation: SELL
- Current price levels show overbought conditions
- Political uncertainty around tariffs creates downside risks
- Recommended to take profits at current levels and wait for pullback to $28.30 support level for new entry
- Stop loss should be placed at $29.00 for short positions
The stock is likely to experience consolidation next week due to overbought conditions and potential impact from trade policy news. The most probable scenario suggests a trading range between $28.30-$28.80.
MT Similar Chart Price Prediction
The price of MT is predicted to go up 26.56%, based on the high correlation periods with PRSO. The similarity of these two price pattern on the periods is 98.64%.
MT
PRSO
Up: 26.56%Similarity: 98.64%
