Cleveland-Cliffs Inc. [NYSE:CLF]’s prices rallied on Wednesday.
Other data for the company is as follows:
- Stochastic %K of 90
- Weighted Alpha of 34.7
Day traders should note that the company’s next earning date is 10/22/2020. The company has price per sales of 1.15.
The Price is right
Holding a Market Cap of $2.93 billion, Cleveland-Cliffs Inc. has seen a trading range over the last year of $2.63-$9.02.
For the last five days, CLF is up from its last closing price. The average shares trading hands each day is 10.14M.
Using a Force Index Indicator is a good way to look at how strong actual buying and selling pressure is for CLF. When we apply the Elder Force Index to Cleveland-Cliffs Inc., we are seeing an Elder Force Indicator number of 7851815.04.
The recent performance of the stock is another area that can tell traders how to proceed. CLF is presenting an interesting case. This can be seen in the Forward P/E ratio, which currently stands at 13.51.
In the last quarter, CLF made a profit of -114.8 million. Cleveland-Cliffs Inc. also saw quarter revenue growth year over year of 3.80%.
Looking at popular technical indicators, the company’s 5-day moving average is 7.22 compared to the 50-day moving average of 19.78%. So, traders might want to tread carefully if they are going to bid.
The Relative Strength Index or RSI is an indicator ranging between 0 and 100 that traders use to determine if a stock is “overbought” or “oversold.” A strong uptrend tending to reach into the “overbought” status is above 70, while a downward trend will stay around the 30 mark. CLF currently holds a 9-day RSI of 71.77%, while 100-day RSI stands at 53.45%.
Another indicator we believe is worth keeping tabs on is the Moving Average Convergence Divergence or MACD. Similar to the concept of the Force Index — on the basis of price momentum — the MACD gives traders a tool to measure the turning point of a stock even during rapid fluctuations in price. Buy and sell signals are determined by a stock’s relation to the zero line, so if a stock is above a zero line for many weeks it might be a “buy.” On the other hand, if a stock is below the zero line consistently, it might be one to stay away from. Also, if the MACD line reaches a peak and dips, its momentum may be waning. CLF’s 9-day MACD is 0.62 and the company’s 100-day MACD stands at 1.50.
Another area that is important to analyze is insider moves and majority shareholders. While this is not always an error-free way to tell what the future holds for a stock, you can maybe gather important information from reading the tea leaves about who is buying and selling.
The major holders for this stock are 1.56% by insiders and 61.95% by institutions.
Over the last six months, insiders have bought 5,000 with the most recent transaction from HARLAN M ANN, Director, with a purchase at price 4.42 per share.
Overall, the recommended rating for CLF is Moderate Buy. Currently, the company has 7 analysts watching the stock, and the average quarterly earnings estimate is -0.1. Quarterly revenue estimates are averaging 1.6B with the high estimate reaching 1.67B and the low at 1.54B.
To review, the current 1-year target estimate is sitting at 6.14, while the current price 7.70. Based on this, we expect some pullback on the stock over time given our above analysis.