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Catanalysis

Caterpillar: Progress!Caterpillar has successfully fallen below the $318.68 level, marking an important step in our primary scenario. There is a 32% probability that we have already seen the low of wave alt.IV in beige, which would allow the price to move directly above the resistance at $386.48 from here. However, due to the price structure, we assume that the regular wave IV in beige still requires a new low before the next rise is scheduled. Once this important bottom of wave IV is found, there is ample potential on the upside.
NYSE:CAT
by MarketIntel
Caterpillar: Digging DeeperOur forecast for Caterpillar suggests that the green wave is currently being developed. We reckon with further price drops in the short term before the beige wave IV can conclude. The pending low should then initiate a trend reversal, which should enable an upward move above $402.16. However, in the context of our 35% probable alternative scenario, the trend would reverse earlier. In this case, the beige wave alt.III would form a new high above $402.16.
NYSE:CAT
by MarketIntel
1
Caterpillar: At site 🚧Caterpillar is at site, working on wave (2) in magenta, which should lead further downwards into the magenta-colored zone between $198.40 and $171.37. From there, the share should turn upwards again, climbing above the resistance at $266.04. However, there is a 34% chance that Caterpillar could slip through the magenta-colored zone and drop below the support at $160.02. In that case, we would expect the share to develop a new low in the form of wave alt.2 in green first before heading upwards again.
NYSE:CAT
by MarketIntel