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ArcelorMittal SA reverses gains

Companies

Shares of ArcelorMittal South Africa lose ground on technical factors after two days of strong gains.

At 11:40 SA time, the company's shares were down 2.60 percent at 35.06 rand.

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The company's share price, which added around 12 percent in the two previous sessions, weighed by technical factors after its 14-day RSI, a measure of momentum watched by technical analysts, hit the overbought level of 70 on Wednesday.

On Thursday the RSI had fallen to around 62. - Reuters

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