CAT1 trade ideas
cat to retest lowsgot rejected at major resistance , missed quarterly earnings, revenue declining year after year. failed to offer next quarter Guidance, Zacks holds a (4)Sell sign, Morgan Stanley lowered its target price to 90. nothing is holding this stock up in the short term. the infrastructure bill could help boost it a little bit but for for the medium to long term , this stock looks very weak. there is a strong support at 112, once it closes below it the next levels should be very easy to break.
$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
CATERPILLAR (CAT) Flag Breakout & Bullish Continuation
hey guys,
on a mid-term perspective caterpillar is trading in a bullish trend.
at the beginning of June, the correction started and for the last two weeks the price was steadily going down within a falling channel
but NOW it looks like the market is returning to a trend.
the price broke above a resistance line of a bullish flag formation.
the breakout is considered to be confirmed and we now can expect a further bullish continuation.
target levels:
128.8
131.5
LONG CATKeep your trading simple 🚀🚀🚀
Bullish Long Term
T1 = minimum risk reward 1:1
Long term target $123 - Closing gap.
I always leave 1/3 of my position for long term gains - moving my stop to my entry if I need to give room for the volatility or using trailing stop for maximum gains.
For maximizing your profits you can use Options.
One of the benefits with swing trading is that we collecting dividend along the way.
Not a financial advise just my tradingview - trade smart trade safe.
Follow me to support my work, Thanks!
cat updatenothing has change since last week still looking very bearish. right now is holding support at 108 and if closes below it, 103 is the next target. it could also retrace from here to 112 before falling further. but over all am shorting this name until something changes . trade safe always do own TA. good luck
