Resistance

Billion

Daily

<ul class="list-ic vertical">
 <li><span>1</span> <a>Cleveland-Cliffs stock price lifted off 8.91% on Tuesday and currently trades at $15.65.&nbsp;&nbsp;</a></li>
 <li><span>2</span> <a>Cleveland-Cliffs Inc. stock (NYSE: CLF) price broke above the 50-day EMA; turning bullish in the near term.&nbsp;&nbsp;&nbsp;</a></li>
 <li><span>3</span> <a>The third quarterly results of Cleveland-Cliffs Inc. outperformed the estimate and the price reacted positively.&nbsp;</a></li>
</ul>
<p>Cleveland-Cliffs Inc. stock price lifted off over 8.91% on Tuesday experiencing a positive impact on the quarterly earnings. The CLF stock price has surpassed the 50-day EMA and is headed to conquer the 200-day EMA.&nbsp;</p>
<p>The recent price surge has tilted the short-term trend in the favor of bulls. However, the long-term trend is still uncertain. The price needs to break above the 200-day EMA in order to turn optimistic in the long run and show a clear trend.&nbsp;</p>
<h2 class="wp-block-heading" id="strong-cleveland-cliffs-stock-price-gained-8-91-after-earnings-strong"><strong>Cleveland-Cliffs Stock Price Gained 8.91% After Earnings</strong></h2>
<p>Cleveland-Cliffs Inc. reported the third quarterly earnings on Monday, 23rd October, which triggered a sharp buying after the gap-up opening. CLF stock investors seemed optimistic and satisfied with the quarterly results which can be seen in the price surge of 9%.<br><br>The company reported revenue slightly better than the expectations at 5.577 Billion. The earnings also outperformed the estimates by 21.15% and was reported to be $0.52 Billion.&nbsp;</p>
<h2 class="wp-block-heading" id="strong-cleveland-cliffs-stock-price-analysis-over-daily-timeframe-strong"><strong>Cleveland-Cliffs Stock Price Analysis Over Daily Timeframe</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/NV6HpgtJS9gqIao-1_ZPyCbsda1Xa1QrHq9izs6weRfMmYCAQs57Ni28hPe2dF6skfkAgHo6bqqEat_48NenBWzGg9umBe-FlBtCErRD6-89pPF2vqqJfYT1ZRbSjFubIB5EfAruIYJDGR0QyPaAsEE" alt="Cleveland-Cliffs Stock Price Rises Amid Earnings, Can It Continue?">
  <figcaption class="wp-element-caption">
   Source: Cleveland-Cliffs&nbsp; 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a>
  </figcaption>
 </figure>
</div>
<p>Cleveland-Cliffs stock price trend analysis illustrates that the Investors are optimistic after the results. However, the price trend is still not clear in the long term. The short-term trend favors the bulls.<br><br>The stock has a recent supply of $16 and a 200-day EMA. The 200-day EMA has acted as a dynamic resistance for the price in the past. The breakout above the recent supply and the 200-day EMA may turn the long-term trend bullish and the stock may show a rally on the upside.</p>
<p>The overall technical opinion rating including RSI and MACD signals a 48% “sell” with the weakest short-term outlook on maintaining the current direction.</p>
<p>The analysts offering a 1-year price forecast for the Cleveland-Cliffs stock have a maximum potential of 59.74% on the upside which could lead the price to a high of $25. The minimum estimate of the analysts expects a drawdown of 14.12% from the CMP and drags the price to a low of $13.44.&nbsp;</p>
<h3 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion</strong></h3>
<p><a href="https://www.thecoinrepublic.com/2022/12/29/cleveland-cliffs-stock-price-prediction-will-clf-stock-price-redeem-its-32-mark-next-year/" rel="noopener noreferrer nofollow">Cleveland-Cliffs</a> stock price jumped 8.91% on Tuesday after reporting better-than-expected quarterly earnings on Monday. The price crossed the 50-day EMA and is approaching the 200-day EMA. The short-term trend is bullish but the long-term trend is unclear.&nbsp;</p>
<p>The price needs to break above the 200-day EMA to confirm a long-term uptrend. The company reported a revenue of 5.577 Billion and earnings of $0.52 Billion, beating the estimates. The stock has a resistance at $16 and the 200-day EMA. The breakout above them may trigger a rally.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<ul>
 <li><strong>Support levels:</strong> $13.85 and $13.06</li>
 <li><strong>Resistance levels:</strong> $15.90 and $17.55&nbsp;</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>

Cleveland-Cliffs Stock Price Rises Amid Earnings, Can It Continue?

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