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Caterpillar Inc., Technical Analysis
1/26/2023 10:04 AMShares of Caterpillar Inc., an American manufacturer of construction and mining equipment, are trading within a global corrective trend at 258.00.
On the daily chart, the price holds within the global Expanding formation pattern with dynamic boundaries of 154.00–262.00, consolidation near the pattern's resistance line at 260.00.
On the four-hour chart, the potential of upward dynamics remains, but the nearest significant resistance is 278.00, to which the price is tending. If the quotes return to the decline, the probability of a deeper correction will increase, but the asset needs to overcome 252.00 again.
Technical indicators keep a stable buy signal: fast EMAs on the Alligator indicator expand the range of fluctuations above the signal line, and the AO histogram forms corrective bars in the buying zone.
