Where are the Opportunities in (CAT)

October 18, 2024, 15:18 pm ET, BY Thomas Y.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for CAT

• Buy CAT near 380.13 target 413.98 stop loss @ 379.03 Details

The technical summary data tells us to buy CAT near 380.13 with an upside target of 413.98. This data also tells us to set a stop loss @ 379.03 to protect against excessive loss in case the stock begins to move against the trade. 380.13 is the first level of support below 393.92 , and by rule, any test of support is a buy signal. In this case, support 380.13 is being tested, a buy signal would exist.

• Short CAT slightly under 413.98, target 380.13, stop loss @ 415.18 Details

The technical summary data is suggesting a short of CAT as it gets near 413.98 with a downside target of 380.13. We should have a stop loss in place at 415.18though. 413.98 is the first level of resistance above 393.92, and by rule, any test of resistance is a short signal. In this case, if resistance 413.98 is being tested, a short signal would exist.

Swing Trading Plans for CAT

• Buy CAT slightly over 398.44, target 413.98, Stop Loss @ 397.29 Details

If 398.44 begins to break higher, the technical summary data tells us to buy CAT just slightly over 398.44, with an upside target of 413.98. The data also tells us to set a stop loss @ 397.29 in case the stock turns against the trade. 398.44 is the first level of resistance above 393.92, and by rule, any break above resistance is a buy signal. In this case, 398.44, 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 398.44, target 389.56, Stop Loss @ 399.59. Details

The technical summary data is suggesting a short of CAT if it tests 398.44 with a downside target of 389.56. We should have a stop loss in place at 399.59 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, 398.44, 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 394.55, target 398.44, Stop Loss @ 393.63 Details

If 394.55 begins to break higher, the technical summary data tells us to buy CAT just slightly over 394.55, with an upside target of 398.44. The data also tells us to set a stop loss @ 393.63 in case the stock turns against the trade. 394.55 is the first level of resistance above 393.92, and by rule, any break above resistance is a buy signal. In this case, 394.55, 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 394.55, target 389.56, Stop Loss @ 395.47. Details

The technical summary data is suggesting a short of CAT if it tests 394.55 with a downside target of 389.56. We should have a stop loss in place at 395.47 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, 394.55, 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 Inc. (CAT) available here: CAT.

CAT Ratings for October 18:

Term →	Near	Mid	Long
Rating	Neutral	Neutral	Strong
P1	0	0	346.78
P2	387.15	389.56	380.13
P3	394.55	398.44	413.98

AI Generated Signals for CAT

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This report was produced using AI developed by Stock Traders Daily.  Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves.  This methodology is also applied to Index options, ETFs, and futures.  The objective of this specific report is to optimize trading in Caterpillar Inc. (NYSE: CAT) while incorporating prudent risk controls.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for CAT change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

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Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if CAT is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for CAT too.  All of these are offered below the Summary Table.