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Cliffs Natural Resources(CLF - Get Report) is an international mining and natural resources company. The company is an iron ore producer and a producer of metallurgical coal. This stock is trading up 1.3% at $40.45 in recent trading.
Today's Volume: 11 million
Average Volume: 4.8 million
Volume % Change: 345%
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From a technical perspective, CLF is moving modestly higher here with monster volume. This move has pushed CLF within range of its 50-day moving average of $42.05. At last check, CLF has hit an intraday high of $42.15, but it has subsequently pulled back to around $40.50.
Traders should now look for long-biased trades in CLF once it manages to sustain a move or close above its 50-day at $42.05 with high volume. Look for volume off that move that hits near or above 4.8 million shares. If that breakout triggers soon, look for CLF to re-test or possibly take out its next major overhead resistance levels at $43.24 to $44.62. If $44.62 does get taken out with volume, then CLF could trade up towards $50 to $52.