Another possible breakout - CLF …

[Tarzan]

CLF is on the verge of another strong move up. Its showing very strong support along the 50 dma. I would like to see a close above $24. What we DONT want to see is a close under the 50 dma..That said, just like a false breakout, you can get a false break down to where it closes below the 50 dma but quickly closes back above it a day or two later.

 

[vanzandt]

CLF is on the verge of another strong move up. Its showing very strong support along the 50 dma. I would like to see a close above $24. What we DONT want to see is a close under the 50 dma..That said, just like a false breakout, you can get a false break down to where it closes below the 50 dma but quickly closes back above it a day or two later. View attachment 267781

I recommended it at $4.
https://www.elitetrader.com/et/thre...-dividends-that-might-be-worth-a-look.341798/

 

[BKR88]

CLF is on the verge of another strong move up.

I'll guess a break down rather than up.

 

[fan27]

CLF is on the verge of another strong move up. Its showing very strong support along the 50 dma. I would like to see a close above $24. What we DONT want to see is a close under the 50 dma..That said, just like a false breakout, you can get a false break down to where it closes below the 50 dma but quickly closes back above it a day or two later. View attachment 267781

I am seeing a ton of stocks setting up similar to this....will we break up or down? Perhaps down then up.

 

[Tarzan]

This is why we dont buy until the buy point is confirmed ( a close above 24 ).