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CLF Head and Shoulders

Long
BATS:CLF   Cleveland-Cliffs Inc
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Entry - $36 - $39
Target - $44+ (Could be the start of new bull trend)
Stop Loss - $32.50 (Failure of head and shoulders would result in continuation of bear trend and probably a significant drop)

Reasons to buy:
Volume increase and falling price on left shoulder
Volume decrease and price gains
Volume increase and falling price on head but heavy volume
Volume INCREASE on price gain on heavy volume (Note volume is now gaining on higher prices rather then reversing)
Volume DECREASE on falling price (More bullish )


Volume will increase causing prices to increase above neckline
And a new bull trend will start.

CLF Head and Shoulders
Load the boat!

Comments

Target Hit
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admin Hello
Well done
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Nice ignition bar today on good volume. Should be on its way to the neckline target area.
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Trade4Pay... I like this setup.
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Hello TradeVulture.com
Me too, I always find things like these when I don't have money in my brokerage. I just missed out on a two dollar gain so far. Feels bad!
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Nice analysis.
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Followed.
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