• Caught in the debt trap?

    Help us help you by taking our second annual Debt survey and you could win R3 000.

  • Rich man, poor man

    Culture change from below is the only way to overcome poverty, says Leopold Scholtz.

  • Tech bubble talk

    After the tech euphoria of 2013, the fast-moving sector has hit a speed bump.

Data provided by McGregor BFA
All data is delayed
Loading...
See More

Amsa shares near 7-year lows

Jul 17 2012 11:58 Reuters

Company Data

ARCELORMITTAL SOUTH AFRICA LIMITED [JSE:ACL]

Last traded 38.09
Change -0.76
% Change -0.02
Cumulative volume 825404
Market cap 16.98bn

Last Updated: 24/04/2014 at 04:24. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

ArcelorMittal must meet obligations

Amsa shares knocked by state snub, fine

Amsa in line for price-fixing fine

Absa Capital downgrades Anglo, others

Amsa wary on core market recovery

Amsa boosts first-quarter profit

 

Johannesburg - Shares in ArcelorMittal South Africa [JSE:ACL], Africa’s largest steel producer, are pinned down in volatile trade near 7-year lows on lingering concerns about falling Chinese demand and its impact on steel prices.

But the share is getting technical support at these levels. At 08:10 GMT, the shares were down 0.47%t to R51.14 after earlier falling well over 2% to R50.03.

The stock got strong support around this level this week and two weeks ago, and November 2005 when it was last around this value, according to Reuters data.

“This is the fourth attempt in the past two weeks to break below R50 on this share but a combination of past congestion and recent prior lows, coupled with monthly signals which suggest it is in oversold territory, suggest there may be a near-term bottom forming,” said George Glynos, managing director at financial consultancy ETM.

 
arcelormittal sa
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.
 
 

Police allowed to become brutal - DA lawyer

A DA election advert depicts how the government has allowed the police to become brutal, Icasa's complaints and compliance committee has heard.

 
 

Latest elections multimedia

Watch what happened when we blindfolded Helen Zille and asked her to eat random things
13 days to elections - news you need to know
11 Julius Malema quotes you'll never forget
DA won't get 30% - Zille

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...