Cleveland-Cliffs ( CLF) was upgraded Monday to a buy by TheStreet's Quant Ratings service.
Let's check and see how the charts look.
When we looked at CLF on July 14 we wrote that, "A rising stock price with a declining OBV line is a problem for me. Technicians like to see volume expand in the direction of the trend and that has been happening this year. Is the OBV indicator flawed? I don't know the answer to it, but I would recommend raising stops to $19.75 from $19. I want to stand closer to the exit door."
The shares weakened to reach our higher sell stop so we are flat. Let's see if this quantitative upgrade gives us a reason to reenter the long side.
In the updated daily bar chart of CLF, below, we can see that the shares broke below the rising 50-day moving average line. CLF has rallied back above the line but I would want to see the early July high to be broken before feeling more confident about the long side.
The On-Balance-Volume (OBV) line has continued to weaken and the Moving Average Convergence Divergence (MACD) oscillator is almost below the zero line. 
In the weekly Japanese candlestick chart of CLF, below, we see a mixed picture. Prices are still in an uptrend above the rising 40-week moving average line.
The weekly OBV line is showing improvement in recent weeks and the MACD oscillator could cross to the upside or downside in its current position.
In this daily Point and Figure chart of CLF, below, we can see a potential upside price target in the $26 area.
Bottom-line strategy: I find it helpful when more than one investment approach lines up in the same direction. A buy recommendation from our quantitative service helps but I also want to see CLF move up above its July or even its June highs before rejoining the long side.
