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Watch for Cleveland-Cliffs Inc to Potentially Rebound After Falling 2.68% Yesterday

By James Quinn

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.

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.

In the past 52 weeks, Cleveland-Cliffs Inc share prices have been bracketed by a low of $6.59 and a high of $12.17 and are now at $7.43, 13% above that low price. The 200-day and 50-day moving averages have moved 0.49% lower and 0.54% lower over the past week, respectively.

Keywords: rebounders :clf cleveland-cliffs inc

Ticker(s): CLF