When a stock breaks out on a good earnings report – then it becomes a no-brainer buy.
CLF Breakout
The Chart is there for everyone to see. There has been a large candle breakout on a very strong earnings report. The company is in the commodity business (primarily iron ore). The company has come a long way – fixing its balance sheet and with the business cycle on upswing – the company is in much better position to generate lots of cash flow and return to shareholders. The analyst community seems excited and hence this is a stock that looks like at the right turning point.
You can do more research about the company here: https://finviz.com/quote.ashx?t=CLF&ty=c&ta=0&p=w
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers