Cliffs Natural Resources Ready to Ascend

Cliffs Natural Resources Inc. (NYSE: CLF ) — Formerly Cleveland-Cliffs Inc., this international mining and natural resources company produces iron ore pellets and metallurgical coal. The company should benefit from a strong market position in North America and a platform for expansion to Asia. On Oct. 6, with the stock at $66.25, the Trade of the Day said, ” Technically the stock is in a powerful bull market, holding above both its bullish support line and 200-day moving average . Within the past month, two buys signals were triggered from our internal indicator, the Collins-Bollinger Reversal (CBR), and on Sept. 27, the stochastic issued a buy signal. At that time, I gave a technical target of $75, and said that S&P had a “four-star buy” on the stock with a 12-month target of $78. On Oct. 29, S&P reiterated their rating, and since then the stock has flashed a new CBR buy and a new stochastic buy.  If you have questions or comments for Sam Collins, please e-mail him at samailc@cox.net .
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