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Caterpillar Inc., Murrey Analysis

11/21/2022 3:33 PM

Shares of Caterpillar Inc., one of the world's leading manufacturers of special equipment, are rising for the second month. After a reversal around 162.50 ([1/8]), the price returned to the positive part of Murrey's trading range and is currently actively testing 237.50 ([7/8]), near the annual highs. The consolidation above it will give the prospect of further growth to 250.00 ([8/8]) and 262.50 ([+1/8]). The key "bearish" level is 212.50, supported by the middle line of Bollinger bands. If it consolidates below it, the current trend may change, and the decline in quotations will resume within the central Murrey channel to 200.00 ([4/8]) and 187.50 ([3/8]).

Technical indicators reflect that prices will continue to rise: Bollinger bands and Stochastic are reversing upwards, and MACD is increasing in the positive zone.


Resistance levels: 237.50, 250.00, 262.50. | Support levels: 212.50, 200.00, 187.50.

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