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Examining the Potential Price Growth of Cleveland-Cliffs Inc (CLF)

Cleveland-Cliffs Inc’s recently made public that its Director GREEN SUSAN MIRANDA unloaded Company’s shares for reported $0.13 million on Mar 13 ’24. In the deal valued at $20.40 per share,6,500 shares were sold. As a result of this transaction, GREEN SUSAN MIRANDA now holds 90,286 shares worth roughly $1.63 million.

Then, Yocum Arlene M bought 2,000 shares, generating $40,050 in total proceeds. Upon buying the shares at $20.02, the Director now owns 94,887 shares.

Before that, GONCALVES LOURENCO sold 187,136 shares. Cleveland-Cliffs Inc shares valued at $3,778,276 were divested by the Chairman, President & CEO at a price of $20.19 per share. As a result of the transaction, GONCALVES LOURENCO now holds 2,699,089 shares, worth roughly $48.75 million.

Wolfe Research downgraded its Cleveland-Cliffs Inc [CLF] rating to an Underperform from a a Peer perform in a research note published recently. A number of analysts have revised their coverage, including Citigroup’s analysts, who decreased its forecast for the stock in mid March from “a Buy” to “a Neutral”. Exane BNP Paribas also remained covering CLF and has decreased its forecast on February 28, 2024 with a “an Underperform” recommendation from previously “Neutral” rating. Morgan Stanley revised its rating on February 15, 2024. It rated CLF as “an Equal-weight” which previously was an “an Overweight”.

Price Performance Review of CLF

On Monday, Cleveland-Cliffs Inc [NYSE:CLF] saw its stock jump 1.01% to $18.06. Over the last five days, the stock has lost -13.38%. Cleveland-Cliffs Inc shares have fallen nearly -11.56% since the year began. Nevertheless, the stocks have risen 19.05% over the past one year. While a 52-week high of $22.97 was reached on 04/04/24, a 52-week low of $13.61 was recorded on 01/19/24. SMA at 50 days reached $20.77, while 200 days put it at $17.89. A total of 8.67 million shares were traded, compared to the trading of 9.28 million shares in the previous session.

Levels Of Support And Resistance For CLF Stock

The 24-hour chart illustrates a support level at 17.91, which if violated will result in even more drops to 17.75. On the upside, there is a resistance level at 18.21. A further resistance level may holdings at 18.35. The Relative Strength Index (RSI) on the 14-day chart is 26.01, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.16, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 92.72%. Stochastics %K at 7.00% indicates the stock is a buying.

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