Bullish Moving Average Cross by Chicago Bridge & Iron (CBI)
Chicago Bridge & Iron (NYSE:CBI) crossed over its 10-day moving average of $45.03 on a volume of 238K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.
In the past 52 weeks, Chicago Bridge & Iron share prices have been bracketed by a low of $32.48 and a high of $47.74 and are now at $45.40, 40% above that low price. The 200-day and 50-day moving averages have moved 0.02% lower and 1.47% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Chicago Bridge & Iron on November 30th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $40.33. Since that recommendation, shares of Chicago Bridge & Iron have risen 10.8%. We continue to monitor CBI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses chicago bridge & iron