CAT trade ideas
CAT maybe next week a buy?Hey everyone,
CAT could repeat it's pattern, don't you think?
Entry: 136$
Stop: 134$
Goal: 149$
Good luck and much fun with that trade!
Leave a follow please, my goal is 200 :)
$CATTicker $CAT broke above recent highs and came and back tested a support level that dates back years. i really like this chart it may consolidate for a bit.
leave a like if you find my plays useful
$CAT #Breakout - Watch Weekly #ResistanceIf you bought CAT's ascending triangle breakout yesterday, watch out for the weekly trendline resistance that is most likely going to get tested today ;). Its the reason I skipped this trade.
Troubled waters ahead for Caterpillar?The GoNoGo Chart of Caterpillar Inc, is an interesting one. The trend is a “Go”, but is experiencing some signs of weakness.
Having failed at resistance around $140, the GoNoGo Trend is painting the paler bars of a slightly less *bullish environment.
In the GoNoGo Oscillator panel, we see that there has been *bearish divergence and that now the oscillator is breaking below zero accompanied by heavy volume.
We’ll be keeping an eye on CAT to see if it can maintain its “Go” trend.
What are the GoNoGo Indicators?
The GoNoGo Trend indicator blends traditional trend concepts to color price action according to the strength of its trend. The colors range from *bright blue (strongly *bullish) to dark *purple (strongly *bearish)
The GoNoGo Oscillator blends traditional *momentum concepts to demonstrate the velocity of price action. The oscillator ranges from -6 (extremely *oversold) to +6 (extremely *overbought)
CATSupport: 130.89
Resistance: 141.31
RSI dips below 30 and sits at 23 = A stronger signal
MACD signal flips but too price action is within 1.5 SD
CAT may be a buy at these levels. CAT's 10-day SMA greater than 50-day, 50-day SMA greater than 100-day. Bollinger Bands are showing that the stock is relatively cheap at these levels (~$131). A potential exit could be around $140.
CAT's Downward Trend Is Set to ContinueCAT is on a downward trend that is set to continue. Volume of 2.33M was especially low at its peak on 29 July, 2020. When it rallied from the market's March 23 bottom and attained a peak price during that trend of $127.37, it had a volume of 4.86 million. The March 23 trend was too steep for it to continue given the state of CAT's fundamentals. If CAT drops below $132, it may find support at $125. If it breaks below that support level, the next support may be at around $121. The 8 June peak price of $137.92 had a volume of 4.13M. The 29 June volume is just 56% of the 8 June peak price. Both the price and the volume trend indicates that CAT is heading lower.
$CAT Caterpillar Breakout Alert for $140
3 valley reversal pattern breakout imminent
Alert set for $140
CAT: Ascending TriangleAscending Triangle
Pros
Descending Volume
PPS above 50MA and 200MA
250RSI above 50
Cons
200MA flat
ATR descending
If confirmed
PT1 = 148,60
PT2 = 156
PT3 = 170.79
PT4 = 200,87
CAT Held Support now looking to touch higher highsCAT Held Support now looking to touch higher highs
CAT holding support long back to the high for break outCAT holding support long back to the high for break out
CATCup and Handle pattern and trend line support with a resistance area of 140-141. The resistance was tested a few times and rejected but CAT is remaining well pithing the support. Earnings are coming up this week (Fri. Jul 31), however the overall market seems to be staying flat during this big earnings week, and this may suppress a possible ER run-up. Very mixed signals as the 20SMA crossed above the 200SMA, but showing a decline in the ATR, which may indicate a false move. Regardless of earnings, still look for any breaks of the support or resistance for a move up or down.
Caterpillar Long in the next days?Hey everyone,
Seems like a repeating chart pattern to me. But i would say it has to fall a bit more, befor going long. So wait until there are reversal signs!
Much fun with that trade!
Leave a comment :)
$CAT potential weekly #chart breakout $CAT has formed a descending triangle since the high in JAN'18 , but also has been trading inside a descending parallel channel since then
Now after last week ER that was actually rather weak, the stock has found some strength and is trying to breakout from the almost 2 year downtrend
MACD positive and histogram green for the past 2 weeks and rising , RSI around 58 with plenty space upwards (remember is weekly chart we are charting)
Look for either RETEST and/or WEEKLY CLOSE above the descending line in order to participate
Targets:
T1 - measured move from the mirror parallel channel is around 168.94
T2 - measured move from the triangle breakout is around 200.08
Good luck,
TA
