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SmarTrend Watching for Potential Pullback in Shares of Cleveland-Cliffs Inc After 2.72% Gain

By David Diaz

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.

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.

Over the past year, Cleveland-Cliffs Inc has traded in a range of $6.59 to $12.26 and is now at $7.37, 12% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 1% while the 200-day MA has remained constant.

Keywords: rebounders :clf cleveland-cliffs inc

Ticker(s): CLF