CLEVELAND-CLIFFS INC.

- USD (-)

- 15 min delayed data - NYSE Stocks

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Type:	Stocks
Ticker:	CLF
ISIN:

CLEVELAND-CLIFFS INC. - Daily - Technical analysis published on 12/17/2019 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : LEVEL MAINTAINED

Summary of the analysis

Trends

Court terme: Strongly bullish

De fond: Bullish

Technical indicators

44%

17%

39%

My opinion

Bullish above 7.58 USD

My targets

8.75 USD (+5.55%)

9.23 USD (+11.34%)

My analysis

CLEVELAND-CLIFFS INC. is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 7.58 USD. The next resistance located at 8.75 USD is the next bullish target to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 9.23 USD. After this resistance, buyers could then target 9.79 USD.

In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

FORCE

5.2

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

CLEVELAND-CLIFFS INC. rating 8.29 USD. On the day, this instrument lost -3.83% and was traded between 8.28 USD and 8.81 USD over the period. The price is currently at +0.12% from its lowest and -5.90% from its highest.

8.28

8.81

8.29

The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.

Bullish opening

Type : Bullish

Timeframe : Openning

Here is a more detailed summary of the historical variations registered by CLEVELAND-CLIFFS INC.:

The Central Records scanner, which identifies the highest / lowest, has detected an element:

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of this Daily chart of CLEVELAND-CLIFFS INC. indicates that the overall trend is bullish. 75% of the signals given by moving averages are bullish. The overall trend is reinforced by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

In fact, only 8 technical indicators out of 18 studied are currently positioned bullish. Caution: the Central Indicators scanner currently detects an excess:

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Pivot points : price is under support 1

Type : Neutral

Timeframe : Daily

Price is back over the pivot point

Type : Bullish

Timeframe : Weekly

Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	6.76	7.58	8.25	8.29	8.75	9.23	9.79
Change (%)	-18.46%	-8.56%	-0.48%	-	+5.55%	+11.34%	+18.09%
Change	-1.53	-0.71	-0.04	-	+0.46	+0.94	+1.50
Level	Major	Major	Intermediate	-	Major	Intermediate	Intermediate

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	8.02	8.27	8.45	8.70	8.88	9.13	9.31
Camarilla	8.50	8.54	8.58	8.62	8.66	8.70	8.74
Woodie	7.98	8.25	8.41	8.68	8.84	9.11	9.27
Fibonacci	8.27	8.44	8.54	8.70	8.87	8.97	9.13

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	7.22	7.66	8.14	8.58	9.06	9.50	9.98
Camarilla	8.37	8.45	8.54	8.62	8.70	8.79	8.87
Woodie	7.24	7.67	8.16	8.59	9.08	9.51	10.00
Fibonacci	7.66	8.01	8.23	8.58	8.93	9.15	9.50

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	6.02	6.53	7.27	7.78	8.52	9.03	9.77
Camarilla	7.66	7.77	7.89	8.00	8.12	8.23	8.34
Woodie	6.13	6.59	7.38	7.84	8.63	9.09	9.88
Fibonacci	6.53	7.01	7.31	7.78	8.26	8.56	9.03

Numerical data

The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:

Technical indicators

Moving averages

RSI (14):	54.54
MACD (12,26,9):	0.2900
Directional Movement:	8.95
AROON (14):	50.00
DEMA (21):	8.51
Parabolic SAR (0,02-0,02-0,2):	7.55
Elder Ray (13):	0.24
Super Trend (3,10):	7.62
Zig ZAG (10):	8.29
VORTEX (21):	1.1100
Stochastique (14,3,5):	77.84
TEMA (21):	8.69
Williams %R (14):	-37.63
Chande Momentum Oscillator (20):	0.19
Repulse (5,40,3):	-7.4400
ROCnROLL:	-1
TRIX (15,9):	0.5000
Courbe Coppock:	18.90

MA7:	8.54
MA20:	8.09
MA50:	7.59
MA100:	7.84
MAexp7:	8.47
MAexp20:	8.15
MAexp50:	7.87
MAexp100:	8.05
Price / MA7:	-2.93%
Price / MA20:	+2.47%
Price / MA50:	+9.22%
Price / MA100:	+5.74%
Price / MAexp7:	-2.13%
Price / MAexp20:	+1.72%
Price / MAexp50:	+5.34%
Price / MAexp100:	+2.98%

News

Don"t forget to follow the news on CLEVELAND-CLIFFS INC.. At the time of publication of this analysis, the latest news was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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