Stock Of The Day: Tariffs Could Mean A New Bull Market For Cleveland Cliffs

Group 1 - Cleveland-Cliffs Inc. shares are experiencing an increase in trading following President Trump's announcement of a 25% tariff on steel and aluminum imports, which is expected to benefit domestic companies like Cleveland-Cliffs [1] - The stock may be breaking out of a downtrend that has persisted for a year, indicating a potential shift in market sentiment [2] - The stock's price action shows that previous support levels, such as $16.45 and $14.25, have turned into resistance levels, reflecting investor behavior and market dynamics [5][6][8] Group 2 - Recent developments suggest that the $10.85 level, which was previously a support level, has now become resistance, but the tariff news could help the stock break through this resistance [9] - The fading of buyer's remorse at market bottoms indicates that levels that were once support may no longer act as resistance, suggesting a potential end to Cleveland-Cliffs' year-long downtrend and the formation of a new bull market [10]