CaterpillarLong
CAT 88.30: Minor double bottom projects further strength
CAT formed a minor double bottom at 84.70/84.91 (as shown on the weekly chart), projecting further strength towards the 89.62 high (May 21, 2015). Clearing the latter would confirm a higher base, extending the 3-month rise towards the 200 day moving average currently at 91.16. The 87.36/84.91 support zone should hold dips. A breakdown below the 84.70/84.91 area is needed to suggest topping.
Short term: bullish
Long term: neutral
Short term: bullish
Long term: neutral
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.