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Caterpillar Bearish Moving Average Crossover Alert (CAT)

By Nick Russo

Caterpillar (NYSE:CAT) shares have crossed bearishly below their 10-day moving average of $81.73 on a volume of 699K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower 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 $81.46, 45% above that low price. The 200-day and 50-day moving averages have moved 0.21% lower and 0.99% higher over the past week, respectively.

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

Ticker(s): CAT