Cliffs Natural Resources Bullish Moving Average Crossover Alert (CLF)

Published on Tue, 06/02/2015 - 11:36
By Peter Chu in Moving average crossovers, CLF, cliffs natural resources, moving crosses, nyse:clf

Cliffs Natural Resources (NYSE:CLF) crossed over its 10-day moving average of $5.23 on a volume of 4.3 million shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Cliffs Natural Resources (NYSE:CLF) defies analysts with a current price ($5.51) 13.0% above its average consensus price target of $4.79. The stock should find resistance at its 200-day moving average (MA) of $8.28, as well as support at its 50-day MA of $5.35.

Cliffs Natural Resources share prices have moved between a 52-week high of $18.41 and a 52-week low of $4.12 and are now trading 34% above that low price at $5.51 per share. The 200-day and 50-day moving averages have moved 2.2% lower and 1.00% higher over the past week, respectively.

Cliffs Natural Resources Inc. is a diversified mining and natural resources company. The Company mines for iron ore and coal in locations across North America, South America, and Australia.

By Peter Chu
pchu@fnno.com

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