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CNH Global Shares Sinking Lower, Down 3.0%

Published on Fri, 03/01/2013 - 11:16
By Mallory Stone

CNH Global (NYSE:CNH) is one of today's biggest movers, down 3.0% to $42.98. The S&P is trading fractionally lower to 1,514 and the Dow is trading fractionally lower to 14,052.

CNH Global share prices have moved between a 52-week high of $49.99 and a 52-week low of $34.36 and are now trading 25% above that low price at $42.98 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.8%.

CNH Global N.V. designs, manufactures, and distributes a full line of agricultural and construction equipment. The Company also provides equipment financing services. CNH Global's products are sold through dealers and distributors on a worldwide basis.

There is potential upside of 25.3% for shares of CNH Global based on a current price of $42.98 and an average consensus analyst price target of $53.86. The stock should hit resistance at its 50-day moving average (MA) of $44.70, as well as support at its 200-day MA of $42.07.

By Mallory Stone
mstone@fnno.com