Caterpillar Inc. or CAT in the New York Stock Exchange is the world’s biggest manufacturer of construction and mining equipment like natural gas engines and industrial gas turbines. They supply engines for tanks and submarines. Most of the bulldozers and the biggest bulldozers you see around are owned by Caterpillar. They also sell financial products and insurance. Anyway, there is a symmetrical triangle formation setting up on the Caterpillar stock chart and like I always mention, if the stocks are coming from an uptrend the triangle will most likely be bullish. This is a good setup for the stock value to climb higher. If the Caterpillar stocks break out and move past above the triangle’s resistance, the $75.87 marker could be the next resistance. If the stocks further move up, there could be some selling pressure however at the $80.00 psychological resistance. Then after that, the next resistance could be $85.96. On the downside, the immediate support could be the triangle’s support. If the stocks drop further below that, the next support could be the 18-month uptrend. Then after that is $63.34.
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Todo din?mica y muy positiva!
Dougles