Resistance

Billion

<ul class="list-ic vertical">
 <li><span>1</span> <a>CLF stock price shows an accumulation of over two weeks near the 50-day EMA.&nbsp;</a></li>
 <li><span>2</span> <a>Cleveland-Cliffs Inc. (NYSE: CLF) price chart analysis illustrates a short-term correction phase below the key EMAs.&nbsp;</a></li>
 <li><span>3</span> <a>The company is yet to disclose quarterly results on Monday, 23rd October due to which the stock price might show volatility.&nbsp;</a></li>
</ul>
<p>Cleveland-Cliffs Inc. (NYSE: CLF) stock price illustrates an accumulation of over two weeks near the 50-day EMA. The bulls are trying to regain control of the game and raise the price higher.<br><br>Moreover, the price trend analysis elaborates that the current quarter saw a decline at the very beginning of the quarter and thereafter a struggle is seen between the buyers and sellers to dominate the trend. The bulls have successfully defended the lower swings currently trying to surpass the upper supply zone to dominate the trend.&nbsp;</p>
<p>The daily charts show that the key EMAs of the 50-day and the 200-day are acting as a dynamic supply zone and the price suffers rejection after it tries to surge above it. The bulls have firmly established their positions near the $13 level and are attempting to surpass the upper supply levels.&nbsp;</p>
<p>The company is yet to announce quarterly results on Monday, 23rd October due to which the stock price might remain volatile. The Wall Street Analysts are expecting the company to deliver a revenue of $5.578 Billion and earnings of $0.441 Billion.&nbsp;</p>
<p>An outperforming quarterly result might attract more investors and the price may show gains in the coming sessions.<br><br>The price chart delivers an indecisive trend until the price is maintained in the zone with resistance at the key EMAs and support near the $13.5 level.&nbsp;</p>
<p>The breakout above the EMAs may turn the short-term trend in the favor of buyers and the stock price may show more gains to reach upper levels. The breakdown below the $13.5 level might disappoint buyers and the price may decline sharply.</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/eDaKAvGLVea06GlqriEEVR2Nqw9u7xG2SqKWywZReNrpFhkl95pJvBPbvYzs3P4NoJTxgIKGEJokpOHmoMFC2skzUJSPTnkc6VDDbgO-kneMN_3IzxQmBufKzwdPxJhwKYq4W5mcyhgid6E45jXtEAQ" alt="Can CLF Stock Price Skip Consolidation Next Week: Earnings Ahead">
  <figcaption class="wp-element-caption">
   Source: barchart.com
  </figcaption>
 </figure>
</div>
<p><a href="https://www.thecoinrepublic.com/2023/09/21/cleveland-cliffs-clf-stock-will-clf-regain-momentum-this-month/" rel="noopener noreferrer nofollow">CLF stock</a>’s option-chain analysis states that the current implied volatility in the market of stock is 53.31% with an increment of 1.53% in the last trading session. The at-the-money strike price has 4882 open contracts on the PUT side and 1549 open contracts on the CALL side indicating the dominance of buyers at the current level.</p>
<h2 class="wp-block-heading" id="strong-clf-stock-price-forecast-for-2023-strong"><strong>CLF Stock Price Forecast For 2023</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/0Ttyx7RYlhvMhbx4UpguGiJq-nVkCqfFN5KQ60gjaYGjCRHOlMZHUgc2aqgJFsa3zFpitp7FR2U1Ob2QAASpGssamHcLori5yGEfIIJk7HhUSHAC4XU-yBRe7qjAUtK-NzBZ5ODejsk89SadR4OhG3w" alt="Can CLF Stock Price Skip Consolidation Next Week: Earnings Ahead">
  <figcaption class="wp-element-caption">
   Source: Cleveland-Cliffs Inc. 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a>
  </figcaption>
 </figure>
</div>
<p>The average analyst price target for <a href="https://www.thecoinrepublic.com/2023/09/21/cleveland-cliffs-clf-stock-will-clf-regain-momentum-this-month/" rel="noopener noreferrer nofollow">CLF stock</a> in 2023 is $18.86, which represents a potential upside of 24.43% from the current price. However, there is a wide range of analyst price targets from $13.44 to $25.00.</p>
<p>The most optimistic analysts believe that CLF stock could reach $25.00 in 2023 indicating an upside potential of over 64.91%. If global steel consumption grows strongly and Cleveland-Cliffs Company is able to meet the demands successfully, a rise in stock price can be seen.</p>
<h3 class="wp-block-heading" id="strong-clf-stock-price-showed-sharp-selling-below-key-emas-strong"><strong>CLF Stock Price Showed Sharp Selling Below Key EMAs</strong></h3>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/0W_vcgmEK0FxvzBNJCs0_Y2fEuomfZYS09fvyZYvLeq64wsgbyOqM4jHv9ZlFTzl5iE-7G8TmGXXuVNvD8Tj5mQ9M7G7F3d11aaOaUbK5yFJw7eT8TjTd2AG5R8VnCxlbSQQA6hlWy11WzMnsQ-ikt8" alt="Can CLF Stock Price Skip Consolidation Next Week: Earnings Ahead">
  <figcaption class="wp-element-caption">
   Source: Cleveland-Cliffs Inc. 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a>
  </figcaption>
 </figure>
</div>
<p>The overall technical indicators including the RSI and MACD signal a 40% “sell” with a weakening short-term outlook on maintaining the current direction.&nbsp;&nbsp;</p>
<h3 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion</strong></h3>
<p>Cleveland-Cliffs Inc. (CLF) stock price is trading near the 50-day EMA, facing resistance from the key EMAs and support near $13.5. The company will announce quarterly results on Monday, 23rd October, which may affect the price volatility. Analysts expect a revenue of $5.578 Billion and earnings of $0.441 Billion.&nbsp;</p>
<p>A positive result may boost the price above the EMAs and a negative result may drag it below the support level. The average analyst price target for CLF stock in 2023 is $18.86 with a range between $13.44 to $25.00.&nbsp;</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<ul>
 <li><strong>Support Levels:</strong> $14.93 and $13.87.</li>
 <li><strong>Resistance Levels:</strong> $15.90 and $16.66.</li>
</ul>
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4>
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

Can CLF Stock Price Skip Consolidation Next Week: Earnings Ahead

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