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Caterpillar Inc., Technical Analysis

3/3/2023 10:21 AM

The shares of Caterpillar Inc., a global manufacturer of construction and mining equipment, are trading within a corrective trend at 252.00.

On the daily chart, the price is moving within the corridor with dynamic boundaries 156.00–267.00, rising toward the global high of 266.00.

On the four-hour timeframe, it can be seen that the potential for the continuation of the upward dynamics remains high, as the quotes have reversed at the local support line at 233.00, which can act as the Neckline of the Head and shoulders pattern.

Technical indicators are preparing to give a buy signal: fast EMAs on the Alligator indicator are narrowing the range of fluctuations, approaching the signal line, and the AO histogram is forming corrective bars, approaching the transition level.



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