Note

CATERPILLAR INC.: TECHNICAL ANALYSIS

amking
· Views 15



CATERPILLAR INC.: TECHNICAL ANALYSIS
Scenario
TimeframeWeekly
RecommendationBUY STOP
Entry Point369.50
Take Profit404.40
Stop Loss363.00
Key Levels320.30, 345.00, 347.80, 355.00, 363.00, 369.50, 385.00, 404.40
Alternative scenario
RecommendationSELL STOP
Entry Point347.80
Take Profit320.30
Stop Loss355.00
Key Levels320.30, 345.00, 347.80, 355.00, 363.00, 369.50, 385.00, 404.40

Shares of Caterpillar Inc., a manufacturer of construction and mining equipment, are trading at 363.00.

On the daily chart, the price is within the upward trend, holding within the ascending channel 385.00–345.00.

On the four-hour chart, the potential for further growth remains high, and the key marker for continued growth is the basic trend level of 100.0% Fibonacci extension of 369.50, consolidation above which will allow the price to reach the full trend level of 161.8% Fibonacci extension of 404.40.

Against a correction, technical indicators maintain a buy signal: fast EMAs on the Alligator indicator are above the signal line, and the AO histogram forms corrective bars above the transition level.

CATERPILLAR INC.: TECHNICAL ANALYSIS

Trading tips

Long positions may be opened after the price rises and consolidates above 369.50, with the target at 404.40. Stop loss – 363.00. Implementation period: 7 days or more.

Short positions may be opened after the price declines and consolidates below 347.80, with the target at 320.30. Stop loss – 355.00.


Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.

FOLLOWME Trading Community Website: https://www.followme.com

If you like, reward to support.
avatar

Hot

No comment on record. Start new comment.

Content related