The indicators of economic distress are vast.
Sometimes I don't know what to post, but you have to post something to trick the little AI bot police.
Anyway, lately things have been feeling a lot like the summer / autumn of 2008. Rampant fomo everywhere, but you can tell the market is getting tired, after a ridiculous full-employment rally.
So now, we have CAT...
CAT (Caterpillar),
On the daily chart, the technical indicators show a high probability for the stock to test the support level 220. Then the stock will rebound to 250, and target 265.
Short-term stop loss to be considered at 200
After a long period being overpriced CAT is getting a price correction. And later this year it will go to 240 which is a normal price for such a company.
Analyzing the options chain and the chart patterns of CAT Caterpillar prior to the earnings report this week,
I would consider purchasing the 260usd strike price Puts with
an expiration date of 2023-8-4,
for a premium of approximately $5.40.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward...
www.scmp.com
When US gets ready its stockpile of soybeans to export to China after the agreement is signed, they will need big tractors and agricultural equipment to assist in its export.
Caterpillar , the household name of US tractors would be one of the beneficiary of this US-China trade deal.
Is it a coincidence that the bearish trend line of this company...
CAT made this beautiful iH&S and we are approaching the measured move that also just happens to be the Jan 2023 high. No trade at this time, but pretty enough (I love horizontal necklines the most) I just *had* to post it!
Some stocks are performing well
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But how can you find the right one to buy?
You will know How To Spot
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the best performing stock
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when you watch this video
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talk soon,
Lubosi Stocks
A bearish pennant may be forming on the CAT 15 minute chart. It has been trading within a channel and the pattern began to form at close of 6/26. CAT has a support at 233 that it bounced off it recently.
CAT as a blue-chip industrial is not a fast mover- it is best suited for options traders or investors.
On the 4 H chart, CAT rose from the lows on a trend up from last November through this
February. It then descended in a retracement about a 50% Fibonacci extent to its present value.
It is now at the POC line of the volume profile for support and is near to...
On CAT as you see on the chart we have the breakout of vwap indicator and also the breakout of the support so it's mean that we will have a big probability to have a downtrend.Thanks!
The PEAD projected a neutral outlook for NYSE:CAT after a negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 66.67%.
I just posted a CAT long idea. (check my profile for context on that)
I mentioned a breakdown but didn't draw it out so decided to make another post (this one).
I'm looking out for both options.
CAT has strong fundamentals and i can't imagine it getting absolutely wrecked, even in worsening economic conditions.
Wedge formed, looking for some retest of previous levels.
Especially if overall market strength continues to go as it has currently been going.
If it breaks down, I don't see CAT going much lower.
