Cleveland-Cliffs Inventory Drops 7.5% In A Week – Right here’s What You Ought to Know

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UKRAINE – 2019/02/13: The Cleveland-Cliffs Inc. Mining Company logo in this photo illustration … [+] displayed on a smartphone. (Photo illustration by Igor Golovniov / SOPA Images / LightRocket via Getty Images)

LightRocket via Getty Images

Cleveland-Cliffs stock (NYSE: CLF) fell 7.5% in the last 5 trading days (1 week). This mainly happened after China’s announcement that it would reduce crude steel production. That would mean low demand for iron ore, which is why that announcement last week caused global iron ore prices to drop by almost 10%. CLF’s competitors such as Vale and Rio Tinto, as well as large steel companies, also took the brunt of this announcement as their share prices fell. Compared to the 7.5% decline on CLF, the broader S&P 500 declined 3.6% in the last 5 trading days. Will CLF shares continue to decline or can we expect a recovery? We believe there is a 52% chance of a rise in CLF stock over the next month (21 trading days) based on our machine learning analysis of the trends in the stock price over the past 5 years. See our analysis on CLF stock opportunities rise for more details.

5D: CLF -7.5% versus S & P500 -3.6%; Market below average

(15% probability event)

  • Cleveland cliffs

    CLF
    camp decreased by 7.5% over a 5 day trading period ending 1/31/2021, compared to a 3.6% decline in the broader market (S & P500)

  • A change of -7.5% or more over 5 trading days is a 15% probability event that has occurred 183 times out of 1256 in the last 5 years

10D: CLF -6.9% versus S & P500 -1.3%; Market below average

(43% probability event)

  • Cleveland-Cliffs stock down 6.9% in the last 10 trading days (2 weeks), compared to a 1.3% decline in the broader market (S & P500)
  • A change of -6.9% or more over 10 trading days is a 43% probability event that has occurred 537 times out of 1240 in the last 5 years

21D: CLF 5.6% versus S & P500 -0.4%; Outperformed market

(6% probability event)

  • Cleveland-Cliffs stock increased by 5.6% the last 21 trading days (1 month), compared to a 0.4% decline in the broader market (S & P500)
  • A change of 5.6% or more over 21 trading days is a 6% probability event that has occurred 80 times out of 1198 in the last 5 years

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