Chicago Bridge & Iron: The Winning Streak Continues (CBI)
Chicago Bridge & Iron (NYSE:CBI) traded today at a new 52-week high of $51.66. This new high was reached on below average trading volume as 232,000 shares traded hands, while the average 30-day volume is approximately 1.6 million shares.
Chicago Bridge & Iron Company N.V. engineers and designs, fabricates, erects, and repairs steel plate structures and their associated systems. The Company builds and repairs bulk liquid terminals, storage tanks, process vessels, and low temperature and cryogenic storage facilities.
In the past 52 weeks, shares of Chicago Bridge & Iron have traded between a low of $32.48 and a high of $51.66 and are now at $51.64, which is 59% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.5% while the 200-day MA has risen 0.5%.
Potential upside of 4.0% exists for Chicago Bridge & Iron, based on a current level of $51.64 and analysts' average consensus price target of $53.71. The stock should discover initial support at its 50-day moving average (MA) of $44.78 and subsequent support at its 200-day MA of $39.97.
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 26.0%. We continue to monitor CBI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: 52 week high/lows chicago bridge & iron