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Bearish Moving Average Cross by Caterpillar Inc (CAT)

By James Quinn

Caterpillar Inc (NYSE:CAT) shares have crossed bearishly below their 10-day moving average of $133.28 on a volume of 433K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Caterpillar Inc share prices have been bracketed by a low of $112.06 and a high of $161.60 and are now at $131.65, 17% above that low price. The 200-day and 50-day moving averages have moved 0.29% lower and 0.42% higher over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Caterpillar Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Caterpillar Inc in search of a potential trend change.

Keywords: moving crosses caterpillar inc

Ticker(s): CAT