• Return to Headlines

Chicago Bridge & Iron: The Winning Streak Continues (CBI)

By Shiri Gupta

Shares of Chicago Bridge & Iron (NYSE:CBI) traded today at $80.60, breaking its 52-week high. Approximately 486,000 shares have changed hands today, as compared to an average 30-day volume of 1.4 million shares.

Over the past year, Chicago Bridge & Iron has traded in a range of $41.22 to $80.60 and is now at $80.15, 94% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has risen 0.6%.

Potential upside of 5.4% exists for Chicago Bridge & Iron, based on a current level of $80.15 and analysts' average consensus price target of $84.50. The stock should find initial support at its 50-day moving average (MA) of $75.51 and further support at its 200-day MA of $63.94.

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.

SmarTrend recommended that subscribers consider buying shares of Chicago Bridge & Iron on July 18th, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $62.10. Since that recommendation, shares of Chicago Bridge & Iron have risen 29.0%. 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

Ticker(s): CBI