( Yesterday close ) Chart courtesy of stockcharts

Shares of Caterpillar are falling more than 8% ( at this moment ), after have reported that said its second-quarter profit fell 21 %, below Wall Street expectations. Company revenue rose 7 % to $11.36 billion, from $10.61 billion last year. Looking at the daily chart incluing today session we can see a big drop in share price reflecting this news. Stock is now trading under the support of 50 daily moving average that may sustain the selling pressure until the end of the day, so pay attention for a possible break of 50 dma in the close.

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Labels: CAT