After Yesterday's Rally of 1.26% Shares Could Potentially Pullback
Caterpillar (NYSE:CAT) traded in a range yesterday that spanned from a low of $72.28 to a high of $73.35. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $73.17 on volume of 2.4 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 its subscribers protect gains by selling shares of Caterpillar on May 4th, 2016 by issuing a Downtrend alert when the shares were trading at $75.10. Since that call, shares of Caterpillar have fallen 3.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
In the past 52 weeks, shares of Caterpillar have traded between a low of $56.36 and a high of $89.62 and are now at $73.17, which is 30% above that low price. The 200-day and 50-day moving averages have moved 0.21% lower and 0.99% higher over the past week, respectively.
Keywords: rebounders Caterpillar