Answer: In a heartbeat...shorts will panic there and for good reason.
Your first line in the sand is $38-$38.50. I don't think it will break through there, but if it does, then it may head to $40.
However, two key analysts have sell ratings on CLF within the past few weeks, and nothing has changed fundamentally, other than the huge writeoff, which is a negative.
Analists seem to be kinda accurate about 30-35% of the time.
Chart is looking bullish to me...I think we blow right through 38...40 is the line IMO
agree, but I would love to see them release div info??? They will be writing down alot of goodwill and assets which every other co has done in the sector...should bode well for2013 comp.s with improving metrics...IO still holding up well and RIO
Sentiment: Strong Buy