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CATERPILLAR INCCATERPILLAR INCCATERPILLAR INC

CATERPILLAR INC

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CAT1 trade ideas

Falling Wedge- BullishBig falling wedge on CAT here after breaking below the symmetrical triangle it was previously holding, big gap to fill on the upside, and some slight bullish divergence on the RSI. Watching CAT closely here for a breakout from this wedge (Broader Market Conditions Permitting). Bullish- just some support and resistance levels along with some RSI-based supply and demand zones to keep an eye on. CAT is a relatively slow mover so likely will be a longer-term play- PT1- $193.95 PT2- $199.72 PT3- $200.08 (Gap Fill) + Breakout
NYSE:CATLong
by jacobosiason7
2
Breakdown Coming in Caterpillar?Caterpillar was a top pick among investors for the rebound last year. But now the chart is showing several bearish patterns. First is the string of lower highs over the last five weeks. CAT held support around $200 during that time, resulting in a potential descending triangle. Friday, interestingly, was the first close below $200 since February. Second, the 50-day simple moving average (SMA) has dipped below the 200-day SMA: a death cross. Third are the back-to-back inside weeks in late August, followed by two bearish candles. That suggests a period of consolidation has ended and a new downtrend may have begun: Finally, the macro environment is potentially bearish for CAT as the U.S. dollar strengthens and China’s economy weakens. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NYSE:CATShort
by TradeStation
1
How To Play CATI am personally bearish on CAT but I believe this provides a great opportunity to see if a great dip is available when the opportunity strikes. I currently see the 170 VWAP support as a great target, but there also lies a Fibonacci support that rest at 185.87 so keep an eye out for that zone. I will now begin and demonstrate why I'm bearish on this stock. ANALYSIS I am taking a look at the weekly time frame as I believe that greater demonstrates the degree to bearishness this stock is in, although I will update this analysis with a chart of the daily which also indicates bearishness. The first sign of bearishness was the rejection of VWAP resistance at 213. After that we have seen the green EMA cross the red RSI towards the downside(sell signal). Not only have we gotten that conventional sell signal but the Blue LSMA has been crossed by the Green EMA indicating more downwards pressure. If you are long then you don't want that Blue LSMA to cross below that 20 level or else we are going to see even greater expansion to the downside. Targets - 1st 186 - 2nd 170
NYSE:CATShort
by ddcakez