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Cleveland-Cliffs Inc (CLF) Crosses Pivot Point Support at $8.10

By James Quinn

Cleveland-Cliffs Inc (:CLF) has opened bearishly below the pivot of $8.24 today and has reached the first level of support at $8.10. Analysts will be watching for a cross of the next downside pivot targets of $8.02 and $7.80.

Cleveland-Cliffs Inc share prices have moved between a 52-week high of $13.10 and a 52-week low of $7.40 and are now trading 11% above that low price at $8.19 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 0.5%.

Potential upside of 6.3% exists for Cleveland-Cliffs Inc, based on a current level of $8.19 and analysts' average consensus price target of $8.71. The stock should find initial resistance at its 200-day moving average (MA) of $9.82 and further resistance at its 50-day MA of $10.08.

SmarTrend is monitoring the recent change of momentum in Cleveland-Cliffs Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Cleveland-Cliffs Inc in search of a potential trend change.

Keywords: pivot alerts :clf cleveland-cliffs inc

Ticker(s): CLF