CLF stock: buy or sell
Updated on:
Jan 18th, 2021
2
CLF stock brief
- Cleveland-Cliffs stock tanked -9.20% to close at $16.48 on the stock market last Friday.
- The stock is configuring an uptrend pattern since March 2020, when it bottomed at $2.59. This uptrend marked a 536.29% gain
- Cleveland-Cliffs Inc. operates as an independent iron ore mining company in the United States, Canada, and internationally. It operates in two segments, Mining and Pelletizing, and Metallics.
Should I buy Cleveland-Cliffs stock?
Even if you are a experienced or a novel trader, best trading results come from using an investing strategy that never leaves to random or subjective opinions when is the best moment to buy or sell stocks. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best
Is $CLF stock a buy?
In the current situation of Cleveland-Cliffs there is not any eligible buy setup. This doesn't mean we expect a selloff for $CLF in the next few days, or that it may not climb higher. Simply, it doesn't match our recommended trading systems
Should I sell Cleveland-Cliffs stock?
Knowing when to sell a stock is even more difficult than knowing when to buy it. Trading strategies give us the ability us to avoid rash decisions based on our feelings or the buzz surrounding the market. When selling, as well as buying, detailed strategies are very easy to follow but are only applicable for selling shares you already own, not for selling short $CLF stock
A guiding principle is that you should never mantain a trading operation that results in losses greater than those expected at the time of purchase. The moment to sell shares must always be dictated by the stop-loss (automatic or manual)
Is it time to sell Cleveland-Cliffs stock?
In the current situation of Cleveland-Cliffs there is not any eligible sell setup, so Cleveland-Cliffs stock holders with operations in profit can keep their positions
Cleveland-Cliffs ratings
In the last 30 days, 2 analyst ratings were published for Cleveland-Cliffs. General sentiment is bullish, with 2 out of 2 posting optimistic outlooks
| Brokerage firm | Rating |
|---|---|
| Dec 22nd, 2020 | |
| KeyCorp | Buy |
| Jan 12th, 2021 | |
| B. Riley | |
Cleveland-Cliffs stock analysis
Since in March 2020, Cleveland-Cliffs has been drawing an uptrend that so far marked an amazing 536.29%. The price shows higher peaks and higher troughs, and along the way gave some buy points for those who wanted to invest. Latest pullback was in September 2020, when price bounced at $5.48. Like in all uptrends, price needs to rest and now price is consolidating the gains in a range between $18.77 and $5.48
SMAs overview
Supports and resistances
The current resistance levels are:
The current support levels are:
Bollinger bands
Since the price surpassed the upper band last Tuesday, the price corrected downwards by 12.20%
Relative strength index
After breaking above the line of 70 yesterday, dropped back below with a reading of 59.07. This is a signal of weakness for the stock and it must tip us off of weakness in the stock price
Cleveland-Cliffs stock price history
Cleveland-Cliffs went public on Feb 21st, 1973 at $0.00 per share1. Since then, CLF stock has risen by -, with an average of 0.00% per year. If you had invested $1,000USD in Cleveland-Cliffs stock on the IPO, it would worth $inf today.
1: Adjusted price after possible price splits or reverse-splits
Price target for Cleveland-Cliffs stock
How much a stock will be priced tomorrow or next week is quite unpredictable. However, many stock price forecasts are posted every day by banks, financial institutions and independent analysts.
The following table shows the price predictions released by financial institutions over the last 30 days. Again, these estimates are not direct recommendations for small investors and must not be trusted blindly.
There are 2 price predictions published for Cleveland-Cliffs that average $18.50. Cleveland-Cliffs closed at $16.48 last Friday, that is a 10.92% than the forecasted price.
| Brokerage firm | Price target |
|---|---|
| Dec 22nd, 2020 | |
| KeyCorp | $14.00 → $17.00 |
| Jan 12th, 2021 | |
| B. Riley | $16.00 → $20.00 |
Earnings and financials
Shareholders event was hosted by Cleveland-Cliffs ($CLF) last October after releasing the financial report. CLF reported earnings of $0.04 per share on sales of $1.6 billion. The Wall St estimate was $-0.10 per share on revenue of $1.6 billion.
This compares to Earnings of $0.33 per share same quarter last year, so posted EPS means a reduction of -87.88%. Looking at revenue, figures exploded a 196.26% compared to $5.6B same quarter a year ago.CLF ($CLF) is hosting the Q4 earnings call mid next February. Market analysts analysts estimate of $0.17, that is a 325.00% more than Q3.
Cleveland-Cliffs performance
| Company | 1m | 3m | 6m |
|---|---|---|---|
| Cleveland-Cliffs ($CLF) | 22.20% | 119.10% | 190.70% |
Please read:
The viewpoints published in this article are personal and should not be followed as recommendations for you to buy or sell shares. The author of this report does not know the particular conditions of the reader, his or her own finances or what is in his or her best interest at any given time. All users should speak with their financial advisor before buying or selling any securities Viewpoints are posted for education motives onlyCLF summary
| Friday, January 15th, 2021 | |
|---|---|
| Open | $17.69 |
| Close | $16.48 |
| Day range | $16.44 - $17.73 |
| Previous close | $18.15 |
| Session gain | -9.20% |
| Average true range | $1.33 |
| 50d mov avg | $12.58 |
| 100d mov avg | $9.79 |
| 200d mov avg | $7.49 |
| Earnings date | February 18th, 2021 |