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Do Traders Think Cleveland-Cliffs Inc (CLF) Can Keep Climbing Friday?

Friday, February 03, 2023 02:52 PM | InvestorsObserver Analysts

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Do Traders Think Cleveland-Cliffs Inc (CLF) Can Keep Climbing Friday?

Overall market sentiment has been high on Cleveland-Cliffs Inc (CLF) stock lately. CLF receives a Bullish rating from InvestorsObserver Stock Sentiment Indicator.

Sentiment Score - ,bullish
Cleveland-Cliffs Inc has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on CLF!

What is Stock Sentiment?

Sentiment uses short term technical analysis to gauge whether a stock is desired by investors. As a technical indicator, it focuses on recent trends as opposed to the long term health of the underlying company. Updates for the company such as a earnings release can move the stock away from current trends. Recent trends are a good indicator of current market sentiments. In its most basic form, stocks that are trending up are desirable by investors while stocks currently falling must be unattractive. InvestorsObserver's Sentimental Indicator tracks both changes in price and volume to analyze the most recent trends. Typically an increase in volume indicates ongoing trends are getting stronger, while a decrease in volume usually signals an end to the current trend. Available options can also represent current sentiments for a given stock. Since investors are able to bet on future trends of stocks using options, we consider the ratio of calls to puts when analyzing market sentiments .

What's Happening With CLF Stock Today?

Cleveland-Cliffs Inc (CLF) stock has gained 0.55% while the S&P 500 is lower by -1.05% as of 2:35 PM on Friday, Feb 3. CLF has gained $0.12 from the previous closing price of $21.63 on volume of 6,514,543 shares. Over the past year the S&P 500 is down -9.88% while CLF has gained 15.26%. CLF earned $4.61 a per share in the over the last 12 months, giving it a price-to-earnings ratio of 4.7.

More About Cleveland-Cliffs Inc

Cleveland-Cliffs Inc is a flat-rolled steel producer and a manufacturer of iron ore pellets in North America. It is vertically integrated from mined raw materials and direct reduced iron to primary steelmaking and downstream finishing, stamping, tooling and tubing. The company serves a diverse range of markets due to its comprehensive offering of flat-rolled steel products and supplying of steel to the automotive industry in North America. The group employs approximately 26,000 people across its mining, steel and downstream manufacturing operations in the United States and Canada. Click Here to get the full Stock Report for Cleveland-Cliffs Inc stock.

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