$CAT is moving! Macro analysis + technical with boxes.Hi everyone,
On Saturday US government finally agreed to pass a huge $1 trillion infrastructure bill.
What does that mean?
Utilities, communication, transport and industrial companies will receive subsidiaries for expansion.
So why NYSE:CAT ?
The biggest construction equipment manufacturer in the world. They will benefit indirectly as companies buy/lease their machines/services for infrastructure construction.
Now the chart.
NYSE:CAT is already up almost 5% in premarket after the Saturday news.
It has broken out of the box at 208 and now gapped up deirectly to the next minor resistence level at 216 .
I expect the stock to temporarily trade in a small box before the surge to 223 level.
Long NYSE:CAT :)
Let me know what you think.
What other stocks are going up on this news in your opinion?
Trade wisely and good luck!
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Disclaimer!!!
This is not financial advise.
