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Watch for Caterpillar Inc to Potentially Rebound After Falling 2.43% Yesterday

By James Quinn

Caterpillar Inc (NYSE:CAT) traded in a range yesterday that spanned from a low of $138.76 to a high of $140.06. Yesterday, the shares fell 2.4%, which took the trading range below the 3-day low of $142.84 on volume of 214,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Caterpillar Inc share prices have moved between a 52-week high of $148.47 and a 52-week low of $111.75 and are now trading 25% above that low price at $139.49 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has remained constant.

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