Thursday, 16 February 2017

CAT - battling to clear $100

It was a day of moderate chop for Caterpillar (CAT), which settled -0.8% @ $98.26. Broadly though, CAT has seen a massive climb from the Jan'2016 low of $54.35. There is massive resistance at the psy' threshold of $100, but CAT does look on track for a hyper-bullish breakout.

CAT, daily

CAT, monthly


For the hyper bullish out there, CAT is one of those key stocks that will need to breakout above massive resistance, for the multi-year main market rally to continue.

Its certainly not critical for CAT to break $100 by end month, March.. or even April. However, if CAT isn't above  $100 by the early summer, that'd be a major problem.

Any monthly close >$100 will offer basic upside to $110. Its reasonable to assume 120/125 within 6 months of any such break >$100.

yours... bullish D10Ns

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