Today, shares of Chicago Bridge & Iron (NYSE:CBI) have fallen below their 10-day MA of $53.01 on a volume of 1.0 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Potential upside of 3.6% exists for Chicago Bridge & Iron, based on a current level of $52.72 and analysts' average consensus price target of $54.62. The stock should discover initial support at its 50-day moving average (MA) of $48.15 and subsequent support at its 200-day MA of $40.54.
In the past 52 weeks, shares of Chicago Bridge & Iron have traded between a low of $32.48 and a high of $54.85 and are now at $52.72, which is 62% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has risen 0.2%.
Chicago Bridge & Iron Company N.V. engineers and designs, fabricates, erects, and repairs steel plate structures and their associated systems. The Company builds and repairs bulk liquid terminals, storage tanks, process vessels, and low temperature and cryogenic storage facilities.