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

Summary

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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(see: https://en.wikipedia.org/wiki/Caterpillar_D10 )