Cleveland Cliffs for Break out?
Just a random pick on one of the top volume contributor stock.
Happened to see this counter making nice upward move since it last bottomed in 2016. As seen on the chart, this stock have tested the resistance level with huge volume. Now it is back again at the 11/11.80 testing for another break out. We are not very optimistic about this break out at this point but considering another data coming out in October, we would prefer to pick this up if it drops to $9 Region targeting about 20% movement.
For now we are Bias on the Shorts. If the break out happens with strong volume $15 is our target.
Happened to see this counter making nice upward move since it last bottomed in 2016. As seen on the chart, this stock have tested the resistance level with huge volume. Now it is back again at the 11/11.80 testing for another break out. We are not very optimistic about this break out at this point but considering another data coming out in October, we would prefer to pick this up if it drops to $9 Region targeting about 20% movement.
For now we are Bias on the Shorts. If the break out happens with strong volume $15 is our target.
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