Cleveland-Cliffs stock (NYSE: CLF) dropped 7.5% over the last 5 trading days (1 week). This was mainly after China’s announcement that it plans to cut its crude steel production. This would mean low demand for iron ore due to which this announcement led to almost a 10% drop in global iron ore prices in the last one week. CLF’s rivals like Vale and Rio Tinto, along with major steel companies, also bore the brunt of this announcement with their stock prices dropping. In comparison to CLF’s 7.5% drop, the broader S&P 500 decreased 3.6% over the last 5 trading days. Now, is CLF stock set to decline further or could we expect some recovery? We believe that there is a 52% chance of a rise in CLF stock over the next month (21 trading days) based on our machine learning analysis of trends in the stock price over the last 5 years. See our analysis on CLF Stock Chances Of Rise for more details.
5D: CLF -7.5%, vs. S&P500 -3.6%; Underperformed market
(15% likelihood event)
- Cleveland-Cliffs stock declined 7.5% over a 5-day trading period ending 1/31/2021, compared to broader market (S&P500) decline of 3.6%
- A change of -7.5% or more over 5 trading days is a 15% likelihood event, which has occurred 183 times out of 1256 in the last 5 years
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10D: CLF -6.9%, vs. S&P500 -1.3%; Underperformed market
(43% likelihood event)
- Cleveland-Cliffs stock declined 6.9% over the last 10 trading days (2 weeks), compared to broader market (S&P500) decline of 1.3%
- A change of -6.9% or more over 10 trading days is a 43% likelihood event, which has occurred 537 times out of 1240 in the last 5 years
21D: CLF 5.6%, vs. S&P500 -0.4%; Outperformed market
(6% likelihood event)
- Cleveland-Cliffs stock rose 5.6% the last 21 trading days (1 month), compared to broader market (S&P500) decline of 0.4%
- A change of 5.6% or more over 21 trading days is a 6% likelihood event, which has occurred 80 times out of 1198 in the last 5 years
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