CLF before a 58% increase.
CLF before a 58% increase. It can be seen from the analysis that the price movement of Cleveland Cliffs may continue to move upwards from an accumulation range. The two accumulation ranges shown in the figure have the same percentage and different sizes. The accumulation range now constructed is twice the previous one (logarithmic vertical scale) This indicates the same gain dynamics according to fractal rules. The angle of the ATR axis below the graph also indicates increasing dynamics. The ATR axis formed during the current accumulation phase is steeper than the ATR axis seen below the previous accumulation range. This means that larger movements are expected in the coming period. If we start from the system of fractal rule, we can assume that the larger movements will point not in the direction of volatility but in the direction of the larger rise. Therefore, it can be concluded that CLF shares are facing a major rise. The increase may also be supported by the fact that the fair value of the shares increased from USD 25.76 to USD 28.12. I consider this to be my primary target price now.
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