Short term view - CATERPILLAR INC : Major support reinstated
The resistance has been passed, the trend becomes positive as we now have a succession of ascending peaks and troughs.The next target is at $163.90. The invalidation level is below $142.00.Arguments :
- The major support has been shortly breached, but it is now reinstated. Prices can bounce.
- The resistance has been shortly breached, but it is now reinstated. Prices can fall.
- Prices are breaking above the moving average, it is a sign of strength.
Caterpillar is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company segments include: Construction Industries, which supports customers using machinery in infrastructure, forestry and building construction; Resource Industries, which supports customers using machinery in mining, heavy construction, quarry and aggregates, waste and material handling applications; Energy and Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat? machines; and Financial Products, which provides financing and related services.
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