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Cliffs Natural Resources (CLF) Crosses Pivot Point Support at $22.35
[March 14, 2013]

Cliffs Natural Resources (CLF) Crosses Pivot Point Support at $22.35

Mar 14, 2013 (SmarTrend(R) News Watch via COMTEX) -- Cliffs Natural Resources (NYSE:CLF) has opened bearishly below the pivot of $23.08 today and has reached the first level of support at $22.35. Analysts will be watching for a cross of the next downside pivot targets of $21.97 and $20.86.

In the past 52 weeks, Cliffs Natural Resources share prices have been bracketed by a current low of $21.35 and a high of $73.63 and are now at $21.57. Over the last five market days, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has declined 2.2%.

There is potential upside of 63.8% for shares of Cliffs Natural Resources based on a current price of $21.57 and an average consensus analyst price target of $35.33. The stock should run into initial resistance at its 50-day moving average (MA) of $32.58 and subsequent resistance at its 200-day MA of $38.67.

SmarTrend recommended that its subscribers protect gains by selling shares of Cliffs Natural Resources on February 13th, 2013 by issuing a Downtrend alert when the shares were trading at $30.11. Since that call, shares of Cliffs Natural Resources have fallen 24.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Write to Chip Brian at --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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