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Watch for Cleveland-Cliffs Inc to Potentially Rebound After Falling 6.71% Yesterday

By Amy Schwartz

Cleveland-Cliffs Inc (:CLF) traded in a range yesterday that spanned from a low of $6.84 to a high of $7.35. Yesterday, the shares fell 6.7%, which took the trading range below the 3-day low of $7.32 on volume of 12.5 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, shares of Cleveland-Cliffs Inc have traded between a low of $6.59 and a high of $11.75 and are now at $7.09, which is 8% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has remained constant.

Keywords: rebounders :clf cleveland-cliffs inc

Ticker(s): CLF