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- 1 CAT stock price at press time was $269.30; it shed 1.37% in the last 24 hours; the market cap is $137.382 Billion.
- 2 CAT stock price action indicates bullishness.
- 3 Bulls are regaining strength and are trying to extend their gains.
The price of CAT stock (Caterpillar Stock) persists in the uptrend beyond the significant moving averages and is indicating bullish momentum. However, recently, the share price displayed weakness in trend. On the daily charts, CAT stock trades in the bullish territory and rode the uptrend above the 50 and 200-day EMAs.
Based on the price action, it appears that the CAT stock is poised for a significant rise, with potential growth in price in upcoming sessions. Buyers are actively working to sustain these levels, indicating their commitment to the stock’s upward path.
The bears sessions were dominated by the sellers. Moreover, the buyers continued to make long positions and accumulated more of the stock to extend the uptrend. CAT stock shows the increased presence of buyers’ presence in the market. Furthermore, the price action still shows higher highs and higher lows on the charts, suggesting that the stock is bullish and unwilling to cool off.
The chart structure indicates that buyers are ruling the trend, and the stock is gradually approaching $300. Additionally, the sellers find themselves in a defensive position following the sharp surge that surpassed multiple resistance levels above $290. Investors are displaying a strong willingness to pursue this upward movement.
At press time, CAT stock is trading at $269.30 with an intraday loss of 1.37%, showing bullishness on the charts. Furthermore, the trading volume is 1.434 Million, and the market cap is $137.382 Billion.
Technical Analysis of CAT Stock Price in 1-D Timeframe
Presently, Caterpillar stock (NYSE: CAT ) is trading above the 50 and 200-day SMAs (Simple moving averages), supporting the price momentum.
Nevertheless, if buying volume adds up, then the price might support bullish momentum by making higher highs and new highs. Hence, the CAT price is expected to move upward giving bullish views over the daily time frame chart. The current value of RSI is 48.36 points. The 14 SMA is above the median line at 60.03 points, indicating that the CAT stock is bullish.
The MACD line at 3.23 and the signal line at 5.76 are above zero. A bearish crossover is observed in the MACD indicator which signals weakness in the momentum of the Caterpillar stock price.
Summary
CAT (NYSE: Caterpillar) technical oscillators also support the bullish trend. The MACD, RSI, and EMA are emphasizing positive signs and imply that the uptrend may continue in the Caterpillar stock price. Price action suggests that the investors and traders are bullish on the 1-Day time frame. The price action reflects a bullish perspective at the moment. However, investors and traders should wait for proper setup for the next move and avoid FOMO.
Technical Levels
- Support Levels: The nearest support levels for the CAT stock price are $230.98 and $204.73.
- Resistance levels: The nearest resistance levels for the Caterpillar stock price are $292.85 and $300.00
Disclaimer
The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in stock involves risk. Please assess your situation and risk tolerance before making any investment decisions.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
