Watch for Shares of Cliffs Natural Resources (CLF) to Approach Resistance at $36.35
Cliffs Natural Resources (NYSE:CLF) has opened bullishly above the pivot of $35.36 today and has reached the first level of resistance at $35.82. Analysts will be watching for a cross of the next upside pivot targets of $36.35 and $37.34.
Cliffs Natural Resources (NYSE:CLF) has potential upside of 22.5% based on a current price of $35.61 and analysts' consensus price target of $43.62. The stock should hit resistance at its 200-day moving average (MA) of $43.44, as well as support at its 50-day MA of $34.28.
In the past 52 weeks, shares of Cliffs Natural Resources have traded between a low of $28.05 and a high of $77.67 and are now at $35.61, which is 27% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1% while the 50-day MA has remained constant.
SmarTrend recommended that subscribers consider buying shares of Cliffs Natural Resources on December 12th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $32.51. Since that recommendation, shares of Cliffs Natural Resources have risen 8.6%. We continue to monitor CLF for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: pivot alerts Cliffs Natural Resources