Cliffs Natural Resources Sharply Lower Despite Q2 Beat

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Cliffs Natural Resources Inc CLF shares are trading lower by 73 cents (9.4 percent) at $7.00 in Thursday's session.

Before the open, the company reported a Q2 EPS beat of 8 cents along with a solid sales beat of $83.4 million. Apparently, that's not good enough for the Street as the stock is deep in the red.

After a slightly higher open, it matched Wednesday's high at $8.00 and reversed course. It has continued to make lows for the session at $6.99 and isn't far off that level. That low coincides with its July 11 low of $6.97.

If that area is breached, the next daily low in Cliffs isn't until its July 10 low of $6.52.

Posted In: TechnicalsIntraday UpdateMoversTrading Ideas
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