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Shares of Caterpillar Rise Above Previous 52-Week High

By James Quinn

Caterpillar (NYSE:CAT) traded at a new 52-week high today of $108.04. So far today approximately 502,000 shares have been exchanged, as compared to an average 30-day volume of 5.5 million shares.

In the past 52 weeks, shares of Caterpillar have traded between a low of $56.36 and a high of $108.04 and are now at $107.96, which is 92% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.0%.

Caterpillar Inc. designs, manufactures, and markets construction, mining, agricultural, and forestry machinery. The Company also manufactures engines and other related parts for its equipment, and offers financing and insurance. Caterpillar distributes its products through a worldwide organization of dealers.

Caterpillar (NYSE:CAT) defies analysts with a current price ($107.96) 9.3% above its average consensus price target of $97.90. Caterpillar shares have support at the 50-day moving average (MA) of $74.96 and additional support at the 200-day MA of $71.11.

SmarTrend recommended that subscribers consider buying shares of Caterpillar on April 10th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $96.99. Since that recommendation, shares of Caterpillar have risen 10.9%. We continue to monitor CAT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Caterpillar

Ticker(s): CAT