Cliffs Natural Resources (NYSE:CLF) has opened bearishly below the pivot of $76.28 today and has reached the first level of support at $73.70. Investors may be interested in a cross of the next downside pivot targets of $72.23 and $68.18.

Over the past year, Cliffs Natural Resources has traded in a range of $47.31 to $102.48 and is now at $71.93, 52% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has slid 0.6%.

Potential upside of 42.4% exists for Cliffs Natural Resources, based on a current level of $71.93 and analysts' average consensus price target of $102.46. The stock should find resistance at its 200-day moving average (MA) of $77.01, as well as support at its 50-day MA of $67.38.

SmarTrend recommended that subscribers consider buying shares of Cliffs Natural Resources on January 6th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $66.77. Since that recommendation, shares of Cliffs Natural Resources have risen 12.6%. We continue to monitor CLF for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.