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SmarTrend Watching for Potential Rebound in Shares of Cleveland-Cliffs Inc After 2.68% Loss

By Shiri Gupta

Cleveland-Cliffs Inc (:CLF) traded in a range yesterday that spanned from a low of $7.40 to a high of $7.66. Yesterday, the shares fell 2.7%, which took the trading range below the 3-day low of $7.52 on volume of 2.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Cleveland-Cliffs Inc have traded between a low of $6.59 and a high of $12.17 and are now at $7.43, which is 13% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 0.5%.

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