CATERPILLAR INC.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 379.00 |
| Take Profit | 410.00 |
| Stop Loss | 370.00 |
| Key Levels | 300.00, 350.00, 363.00, 368.00, 370.00, 379.00, 410.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 362.00 |
| Take Profit | 325.00 |
| Stop Loss | 370.00 |
| Key Levels | 300.00, 350.00, 363.00, 368.00, 370.00, 379.00, 410.00 |
Shares of Caterpillar Inc., a manufacturer of construction and mining equipment, are trading in a corrective trend at 368.00.
On the daily chart, the price is moving away from the resistance line of the channel with dynamic boundaries of 350.00–300.00, heading towards annual highs.
On the four-hour chart, the upward dynamics are developing: last week, the quotes overcame the resistance level 363.00 and are approaching the annual extreme of 380.00.
Technical indicators gave a buy signal: fast EMA on the Alligator indicator crossed the signal line upwards, expanding the range of fluctuations, and the AO histogram is forming correction bars above the transition level.
Trading tips
Long positions may be opened after the price rises and consolidates above 379.00, with the target at 410.00. Stop loss is 370.00. Implementation period: 7 days or more.
Short positions may be opened after the price falls and consolidates below 362.00, with the target at 325.00. Stop loss is 370.00.
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