• Return to Headlines

Bearish Moving Average Cross by Chicago Bridge & (CBI)

By James Quinn

Chicago Bridge & (NYSE:CBI) crossed under its 10-day moving average of $14.33 on a volume of 10.1 million 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.

Chicago Bridge & share prices have moved between a 52-week high of $39.71 and a 52-week low of $9.55 and are now trading 39% above that low price at $13.32 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has slid 0.5%.

SmarTrend recommended that its subscribers protect gains by selling shares of Chicago Bridge & on March 2nd, 2018 by issuing a Downtrend alert when the shares were trading at $17.17. Since that call, shares of Chicago Bridge & have fallen 15.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses chicago bridge &

Ticker(s): CBI