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* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of CLF
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Cleveland-Cliffs stock downgraded from Sell Candidate to Strong Sell Candidate after Monday trading session.
(Updated on Mar 18, 2024)

Sell candidate since Mar 14, 2024 Gain 2.09% PDF

The Cleveland-Cliffs stock price gained 1.57% on the last trading day (Monday, 18th Mar 2024), rising from $19.76 to $20.07. During the last trading day the stock fluctuated 2.17% from a day low at $19.78 to a day high of $20.21. The price has fallen in 6 of the last 10 days and is down by -1.71% for this period. Volume fell on the last day by -218 thousand shares and in total, 7 million shares were bought and sold for approximately $140.72 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.

The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.88% during the next 3 months and, with a 90% probability hold a price between $18.97 and $22.05 at the end of this 3-month period.

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CLF Signals & Forecast

Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Cleveland-Cliffs stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $20.27 and $20.08. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 01, 2024, and so far it has fallen -4.79%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Cleveland-Cliffs stock

Cleveland-Cliffs finds support from accumulated volume at $20.05 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.430 (2.17%) between high and low. For the last week, the stock has had daily average volatility of 3.53%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (CLF) For The Upcoming Trading Day Of Tuesday 19th

For the upcoming trading day on Tuesday, 19th we expect Cleveland-Cliffs Inc. to open at $20.02, and during the day (based on 14 day Average True Range), to move between $19.43 and $20.71, which gives a possible trading interval of +/-$0.640 (+/-3.19%) up or down from last closing price. If Cleveland-Cliffs Inc. takes out the full calculated possible swing range there will be an estimated 6.37% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $20.05 (0.10%) than the resistance at $20.13 (0.30%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Cleveland-Cliffs Inc. stock A Buy?

The Cleveland-Cliffs stock holds several negative signals and despite the positive trend, we believe Cleveland-Cliffs will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.

Current score: -5.609 Strong Sell Candidate Downgraded

Predicted Opening Price for Cleveland-Cliffs Inc. of Tuesday, March 19, 2024

Fair opening price March 19, 2024 Current price
$20.02 ( 0.249%) $20.07

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for CLF

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 20.45 1.89 %
R2 20.29 1.07 %
R1 20.18 0.569 %
Current price: 20.07
Support S1 19.86 -1.07 %
S2 19.75 -1.57 %
S3 19.59 -2.39 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 21.15 5.38 %
R2 20.36 1.44 %
R1 20.13 0.299 %
Current price 20.07
Support S1 20.05 -0.0997%
S2 19.87 -1.00%
S3 19.17 -4.48%

CLF Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Feb 18, 2020 Apr 02, 2020 Apr 15, 2020 $0.0600 1.58%
2 Dec 02, 2019 Jan 02, 2020 Jan 15, 2020 $0.0600 0.769%
3 Sep 03, 2019 Oct 03, 2019 Oct 15, 2019 $0.100 1.36%
4 May 31, 2019 Jul 03, 2019 Jul 15, 2019 $0.0600 0.563%
5 Feb 20, 2019 Apr 04, 2019 Apr 15, 2019 $0.0500 0.488%

FAQ

What is the symbol for Cleveland-Cliffs Stock and on which exchange is it traded?
The symbol for Cleveland-Cliffs is CLF and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell Cleveland-Cliffs Stock?
The Cleveland-Cliffs stock holds several negative signals and despite the positive trend, we believe Cleveland-Cliffs will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.

How to buy Cleveland-Cliffs Stock?
Cleveland-Cliffs Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Cleveland-Cliffs Stock.

What's the current price of Cleveland-Cliffs Stock?
As of the end of day on the 2024-03-18, the price of an Cleveland-Cliffs (CLF) share was $20.07.

What is the 52-week high and low for Cleveland-Cliffs Stock?
The 52-week high for Cleveland-Cliffs Stock is $21.47 and the 52-week low is $13.61.

What is the market capitalization of Cleveland-Cliffs Stock?
As of the 2024-03-18, the market capitalization of Cleveland-Cliffs is 10.001B.

When is the next earnings date for Cleveland-Cliffs?
The upcoming earnings date for Cleveland-Cliffs is Apr 22, 2024.
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About Cleveland-Cliffs Inc.

Cleveland-Cliffs Cleveland-Cliffs Inc. operates as a flat-rolled steel producer in North America. The company offers carbon steel products, such as hot-rolled, cold-rolled, electrogalvanized, hot-dip galvanized, hot-dip galvannealed, aluminized, enameling, and advanced high-strength steel products; stainless steel products; plates; and grain oriented and non-oriented electrical steel products. It also provides tubular components, including carbon steel, stainless... CLF Profile

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