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Cleveland-Cliffs Inc Falls 6.71% on Heavy Volume: Watch For Potential Rebound

By Shiri Gupta

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, Cleveland-Cliffs Inc share prices have been bracketed by a low of $6.59 and a high of $11.75 and are now at $7.09, 8% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.2%.

Keywords: rebounders :clf cleveland-cliffs inc

Ticker(s): CLF