user warning: Table './fnndrupaldev/term_node' is marked as crashed and last (automatic?) repair failed query: SELECT t.* FROM term_node r INNER JOIN term_data t ON r.tid = t.tid INNER JOIN vocabulary v ON t.vid = v.vid WHERE r.vid = 565214 ORDER BY v.weight, t.weight, t.name in /var/www/www.fnno.com/htdocs/modules/taxonomy/taxonomy.module on line 617.

Cliffs Natural Resources (CLF) Approaches New Upside Target of $22.65

Published on Mon, 09/16/2013 - 09:35
By Peter Chu

Shares of Cliffs Natural Resources (NYSE:CLF) opened today above their pivot of $22.03 and have already reached the first level of resistance at $22.36. Should the shares continue to rise, the resistance pivots of $22.65 and $23.27 will be of interest.

Cliffs Natural Resources share prices have moved between a 52-week high of $46.50 and a 52-week low of $15.41 and are now trading 45% above that low price at $22.38 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has advanced 3.4%.

Based on a current price of $22.38, Cliffs Natural Resources is currently 13.2% above its average consensus analyst price target of $19.43. The stock should find resistance at its 200-day moving average (MA) of $24.36, as well as support at its 50-day MA of $20.52.

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

Latest News from FNNO

Analyst Rating Flashback: Youku.com Down...

OTR Global downgraded Youku.com (NYSE:YOKU) from Positive to Mixed a week ago. Youku.c ...

Capital One Made the Right Call, Energy ...

One week ago Energy XXI Bermuda (NASDAQ:EXXI) was downgraded from Overweight to Equalwe ...

Analyst Rating Flashback: People's Unite...

Sandler O'Neill downgraded People's United Financial (NASDAQ:PBCT) from Hold to Sell a ...

Sterne Agee's Rating Change Only Had Sho...

One week ago Approach Resources (NASDAQ:AREX) was upgraded from Underperform to Neutral ...

FBR Capital Made the Right Call, FMC Tec...

One week ago FMC Technologies (NYSE:FTI) was downgraded from Outperform to Market Perfo ...

Analyst Rating In Review: China Petroleu...

One week ago China Petroleum & Chemical (NYSE:SNP) was downgraded from Outperform to Ma ...

Accenture In Retrospect: Shares Down 1.7...

A week ago, Citigroup downgraded Accenture from Buy to Neutral. Accenture shares are s ...

Analyst Rating Flashback: Peabody Energy...

A week ago, Nomura downgraded Peabody Energy from Neutral to Reduce. The shares closed ...