CAT has slowly been unwinding with lots of volume on every move to the downside while seeing lower relative volume of buyers bidding up the price.
I'm looking for CAT to make one more swing up to look for any buyers near 208 and 217 areas. If we get a rush of volume to support the move then we should the continued trend to the upside of the pitchfork.
Downside:
I've left my fib levels to watch for areas of rejection. I'll also be taking a look at volume and strength of buying vs selling to look for weakness to the downside.
Should we lose the pitchfork median we will easily go to 150 by summertime (or even after earnings).
There are some headwinds away with the build back better plan possibly being killed, issues with supply and manufacturing in China, etc.
I'm looking for CAT to make one more swing up to look for any buyers near 208 and 217 areas. If we get a rush of volume to support the move then we should the continued trend to the upside of the pitchfork.
Downside:
I've left my fib levels to watch for areas of rejection. I'll also be taking a look at volume and strength of buying vs selling to look for weakness to the downside.
Should we lose the pitchfork median we will easily go to 150 by summertime (or even after earnings).
There are some headwinds away with the build back better plan possibly being killed, issues with supply and manufacturing in China, etc.