Solid News

Caterpillar Inc., Technical Analysis

11/2/2022 11:28 AM

The shares of Caterpillar Inc., a global manufacturer of construction and mining equipment, are moving within a global corrective trend at 190.00.

On the daily chart, a global Expanding formation pattern with dynamic boundaries of 156.00–260.00 is forming, within which an ascending wave is developing.

On the four-hour chart, it can be seen that the reversal towards growth has already been finally formed, as evidenced by the price gap of 198.00–211.00, which is often a sign of the beginning of a new trend.

Technical indicators confirm the development of upward dynamics: fast EMAs on the Alligator indicator expand the range of fluctuations, and the AO oscillator histogram forms upward bars, rising in the buying zone.



Solid ECN Securities and it affiliates don't accept applications from Indonesia, Egypt, Australia, Bonaire, Curaçao, East Timor, Liberia, Saipan, Russia, Sint Eustatius, Tahiti, Turkey, Guinea-Bissau, South Sudan and other restricted countries.
Copyright All Right Reserved 2023 SolidECN.com