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CATERPILLAR INC.: MURREY ANALYSIS

amking
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CATERPILLAR INC.: MURREY ANALYSIS
Scenario
TimeframeWeekly
RecommendationBUY STOP
Entry Point343.80
Take Profit359.38, 375.00
Stop Loss333.00
Key Levels296.89, 304.69, 320.31, 343.75, 359.38, 375.00
Alternative scenario
RecommendationSELL STOP
Entry Point320.30
Take Profit304.69, 296.89
Stop Loss330.00
Key Levels296.89, 304.69, 320.31, 343.75, 359.38, 375.00

Current trend

Shares of Caterpillar Inc., a manufacturer of construction and mining equipment, are recovering lost ground. The quotes have reversed from the lower border of the main Murrey trading range of 312.50 (Murrey level [0/8]) and are now close to its central mark of 343.75 (Murrey level [4/8]), supported by the middle line of Bollinger Bands. Consolidation above will allow the asset to reach the area of ​​359.38 (Murrey level [6/8]) and 375.00 (Murrey level [8/8]). In case of consolidation below 320.31 (Murrey level [1/8]), a decline to the area of ​​304.69 (Murrey level [–1/8]) and 296.89 (Murrey level [–2/8]) is expected.

Technical indicators do not give a single signal: Bollinger Bands are reversing horizontally, Stochastic is directed upward, and the MACD histogram is stable in the negative zone.

Support and resistance

Resistance levels: 343.75, 359.38, 375.00.

Support levels: 320.31, 304.69, 296.89.

CATERPILLAR INC.: MURREY ANALYSIS

Trading tips

Long positions may be opened above 343.75, with the targets at 359.38, 375.00 and stop loss 333.00. Implementation period: 5–7 days.

Short positions may be opened below 320.31, with the targets of 304.69, 296.89 and stop loss of 330.00.


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