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CATERPILLAR INCCATERPILLAR INCCATERPILLAR INC

CATERPILLAR INC

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CAT1 trade ideas

CAT loosing strength? Potential Short PositionSo CAT has been has been consolidating between this 174.50 (resistance) and 170 (support) area. It has tested the resistance multiple times and failed now seems to be loosing strength to keep testing the resistance. Ill be looking to see if CAT begins to form a down trend in the upcoming days and starts to test the 170 level support. I think its important to note that it dropped below 170 on Nov 20 but rebounded, but it also again failed at the resistance. In my opinion, the more it fails at the resistance, the over all bullish strength is beginning to wane. Ultimately, from a technical stand point it seems CAT is starting to loose energy and may fall off. Will be watching the 170 level closely and looking for signs of a down trend as it begins to break out of the up trend (dotted red line).
NYSE:CATShort
by CurioTrade
Long CATPotential Long for CAT - Bouncing off 50EMA & currently oversold - Bullish Engulfing pattern was formed with a confirmation candle - Sitting on a support formed by previous high resistance - Upcoming presidential election may have some impacts on the Infrastructure stocks Overall the momentum of the "industrials" sector has been on an uptrend since May. But do take cautions, as the price dip below the 50MA over the past week. Looking into the industry of "Agriculture" and "Construction", both have been climbing up with an upside momentum. It has passed all of my checkboxes for a long setup, except the MACD indicator has failed. Hence I would be very alert when entering the Long trade
NYSE:CATLong
by UnknownUnicorn11629771
2
CAT Potential ShortThis may take some time (say a week or two) to develop but essentially there are three levels that I think are key in determining whether CAT stays strong or breaks down. Those are 170, or the highest the stock has ever been and were it recently sold off. 155.40, Consistently served as past resistance until CAT broke through to reach its all time highs. Whenever CAT breaks through this level it really runs up. Lastly, 150.60 which served as a past resistance but most recently served as a support. So all in all, CAT blasted to 170 and sold off fairly quickly but now consolidating a bit as the 157 price. Im interested to see how it holds at this price. If it does, so be it, it has strength, but if it breaks down and down trends to the 155.40 level I will be looking to get short. And if it approaches the 150.60 level I will be extremely interested in getting short. Personally, I will be watching to see CATs price action this week. If CAT rebounds and take note if the rebounds form a lower high and are approaching the levels listed above. If the trend keeps going up and shows strength I will keep an eye at 170 (Maybe it breaks through and rallies or it sells off). If CAT continues down, I will be watching 155.40 to get short. Note: I put some anchored VWAP in there to see, but I dont think they add much value to the overall analysis (for the time being).
NYSE:CATShort
by CurioTrade