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SmarTrend Watching for Potential Rebound in Shares of Caterpillar Inc After 1.58% Loss

By David Diaz

Caterpillar Inc (NYSE:CAT) traded in a range yesterday that spanned from a low of $124.25 to a high of $128.47. Yesterday, the shares fell 1.6%, which took the trading range below the 3-day low of $124.98 on volume of 2.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Caterpillar Inc has traded in a range of $112.06 to $161.60 and is now at $124.61, 11% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.6%.

SmarTrend is tracking the current trend status for Caterpillar Inc and will alert subscribers who have CAT in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders caterpillar inc

Ticker(s): CAT