Bullish Moving Average Cross by Caterpillar (CAT)
Today, shares of Caterpillar (NYSE:CAT) have advanced above their 10-day MA of $82.47 on a volume of 1.2 million shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.
In the past 52 weeks, Caterpillar share prices have been bracketed by a low of $56.36 and a high of $89.62 and are now at $83.29, 48% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has slid 0.2%.
SmarTrend recommended that subscribers consider buying shares of Caterpillar on July 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $79.12. Since that recommendation, shares of Caterpillar have risen 3.7%. We continue to monitor CAT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses Caterpillar