Approx. 66% increase in CLF since July 1 (from $15.60 lows to $26 highs yesterday). Does it need to catch a breath here?
If someone bought and held from the lows, they did very, very well. I traded in and out of CLF several times during this period and got out last week with 3,000 shares, leaving about 10K on the table. Ouch!
Regradless, did pretty good with the trades. If there is any digestion of gains, I'll look aty it again.
This could go up to $40 without stop easily.
CLF is deeply undervalued, over sold. At current price, even not reach its book value yet.
1 year high is $45, 2 year high is $90, CLF should be at that range now.
With 58 million shorts, to $60 in short time.
Your price target is way to ambitious. CLF was priced that high during a commodity super cycle with China being the driver, and that will never happen again, just my opinion. CLF, along with hundreds of other commodity/materials related stocks will not see their old highs. Sorry, but that is the reality, while $90 is a hope.