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Cleveland-Cliffs Inc Rises 2.72% on Heavy Volume: Watch For Potential Pullback

By Nick Russo

Cleveland-Cliffs Inc (:CLF) traded in a range yesterday that spanned from a low of $7.29 to a high of $7.45. Yesterday, the shares gained 2.7%, which took the trading range above the 3-day high of $7.33 on volume of 3.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Cleveland-Cliffs Inc share prices have moved between a 52-week high of $12.26 and a 52-week low of $6.59 and are now trading 12% above that low price at $7.37 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1%.

SmarTrend is tracking the current trend status for Cleveland-Cliffs Inc and will alert subscribers who have CLF in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders :clf cleveland-cliffs inc

Ticker(s): CLF