Medium term view - CATERPILLAR INC : The moving average is supporting prices.
The trend has been momentarily interrupted by a correction. It approaches the support at $142.600, which also is the invalidation level. It should cause a bounce and resume the bullish trend. The next target is at $183.800. The invalidation level is below $142.000.Arguments :
- The support has been reached.
- The MACD is falling.
- The moving average is supporting prices.
- A tweezer top has been formed, it could reverse the trend to the downside.
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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