How the price action of Caterpillar (CAT) is used to our Advantage
February 03, 2023, 08:30 am ET, BY Thomas H. Kee Jr- Editor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for CAT
- Buy CAT slightly over 218.94 target n/a stop loss @ 218.31. Details
The technical summary data tells us to buy CAT near 218.94, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 218.31 to protect against excessive loss in case the stock begins to move against the trade. 218.94 is the first level of support below 244.97, and by rule, any test of support is a buy signal. In this case, if support 218.94 is being tested, a buy signal would exist.
- NONE . Details
NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.
Swing Trading Plans for CAT
- Buy CAT slightly over 248.10, target 262.51, Stop Loss @ 247.38 Details
If 248.10 begins to break higher, the technical summary data tells us to buy CAT just slightly over 248.10, with an upside target of 262.51. The data also tells us to set a stop loss @ 247.38 in case the stock turns against the trade. 248.10 is the first level of resistance above 244.97, and by rule, any break above resistance is a buy signal. In this case, 248.10, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short CAT slightly near 248.10, target 218.94, Stop Loss @ 248.82. Details
The technical summary data is suggesting a short of CAT if it tests 248.10 with a downside target of 218.94. We should have a stop loss in place at 248.82 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 248.10, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Day Trading Plans for CAT
- Buy CAT slightly over 248.10, target 252.40, Stop Loss @ 247.52 Details
If 248.10 begins to break higher, the technical summary data tells us to buy CAT just slightly over 248.10, with an upside target of 252.40. The data also tells us to set a stop loss @ 247.52 in case the stock turns against the trade. 248.10 is the first level of resistance above 244.97, and by rule, any break above resistance is a buy signal. In this case, 248.10, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short CAT slightly near 248.10, target 241.94, Stop Loss @ 248.68. Details
The technical summary data is suggesting a short of CAT if it tests 248.10 with a downside target of 241.94. We should have a stop loss in place at 248.68 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 248.10, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Check the time stamp on this data. Updated AI-Generated Signals for Caterpillar (CAT) available here: CAT.
CAT Ratings for February 03:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Strong |
Strong |
Neutral |
| P1 |
0 |
0 |
170.94 |
| P2 |
241.94 |
248.10 |
194.64 |
| P3 |
252.40 |
262.51 |
218.94 |
AI Generated Signals for CAT
Blue = Current Price
Red= Resistance
Green = Support
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Our job as #investors is to pay attention to the #stocks we own. Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The Caterpillar (NYSE: CAT) data table below can help you with price action, and we have more details too. Trading plans for CAT are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for CAT:
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