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.
I recommended it at $4. https://www.elitetrader.com/et/thre...-dividends-that-might-be-worth-a-look.341798/
I am seeing a ton of stocks setting up similar to this....will we break up or down? Perhaps down then up.