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Chicago Bridge & Iron Bullish Moving Average Crossover Alert (CBI)

By James Quinn

Chicago Bridge & Iron (NYSE:CBI) shares have crossed bullishly above their 10-day moving average of $36.50 on a volume of 125K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Chicago Bridge & Iron share prices have moved between a 52-week high of $59.45 and a 52-week low of $31.30 and are now trading 17% above that low price at $36.72 per share. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 0.9%.

SmarTrend recommended that its subscribers protect gains by selling shares of Chicago Bridge & Iron on May 9th, 2016 by issuing a Downtrend alert when the shares were trading at $37.57. Since that call, shares of Chicago Bridge & Iron have fallen 3.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses chicago bridge & iron

Ticker(s): CBI