(Bloomberg) -- Caterpillar Inc. has bounced right back each time the shares dipped below the 100-day moving average over the past 12 months. The stock approached that threshold again Thursday after a raid of its Illinois office by federal tax and banking authorities triggered the biggest plunge since June. Investors may take heart from the fact that the stock has maintained its upward momentum despite hitting several hurdles. Shares are up 36 percent in the past year, having recovered from an unexpected Brexit vote outcome and disappointing sales forecast.
To contact the reporter on this story: Esha Dey in New York at edey@bloomberg.net.
To contact the editors responsible for this story: Arie Shapira at ashapira3@bloomberg.net, Richard Richtmyer, Lester Pimentel
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