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After Yesterday's Rally of 1.21% Shares Could Potentially Pullback

By Shiri Gupta

Caterpillar Inc (NYSE:CAT) traded in a range yesterday that spanned from a low of $171.14 to a high of $173.24. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $170.67 on volume of 2.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that subscribers consider buying shares of Caterpillar Inc 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 Inc have risen 75.6%. We continue to monitor CAT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Caterpillar Inc share prices have moved between a 52-week high of $173.24 and a 52-week low of $70.53 and are now trading 144% above that low price at $172.02 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.0%.

Keywords: rebounders caterpillar inc

Ticker(s): CAT