Bearish play for CAT
Updated
First off. Risk management. Stop set above green line in case upward momentum continues. For now, price action broke upward trend arrow and may be heading downward. In fact, everything about this stock has been trending downward. On a larger time scale, price action is on a solid downtrend and has reached the half way point of this downtrend. This would add validity to any downward trade made on this stock at a shorter time frame. The trade I am looking for to happen is a break catch of the breakout of the bearish flag. MACD remains bearish and RSI shown downward momentum trend in tact and showing no signs of conflicting data.
Note
excuse the typos!
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