Bearish DailyPlay for Friday May 20th, 2016 – Caterpillar (CAT)
The bearish DailyPlay we chose for Friday May 20th is Caterpillar (CAT). CAT is part of the Industrials Sector (XLI). Over the last month, XLI has experienced a 2.94% move lower and its 1m trend turned bearish and 6m trend turned neutral yesterday.
Caterpillar’s 1m and 6m trends turned bearish on 5/18 and recently broke below its $70 minor support level on high volume. With a technical score of 5 (out of 10), CAT looks positioned to continue this bearish trend lower.