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S&P 500 Overbought StocksArchive - 3/15/2024 - Sign In to see current Signals. |
Caterpillar Inc. (CAT) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was a eighth consecutive positive week for the Caterpillar Inc. (CAT). During the week, the CAT gained 7.78 points, or 2.29%, and closed at 346.97 on Friday, March 15, 2024. Weekly volume was -28% below average. CAT is a member of Industrials Sector. Industrials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry. Long-term trend: [See CAT long-term trend chart] A long-term uptrend had started on September 27, 2022 at 160.60 and reached 347.29 on March 15, 2024. CAT gained -186.69 points, or -116.25%, in 76 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (245.72) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend. Medium-term trend: [See CAT medium-term trend chart] A medium-term uptrend had started on October 31, 2023 at 223.76 and reached 347.29 on March 15, 2024. CAT gained -123.53 points, or -55.21%, in 19 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 331.92 and resistance is at 379.39. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend. Weekly Technical Indicators: [See CAT weekly technical indicators chart] Weekly Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Weekly Relative Strength Index and Lane's Stochastic have bearish divergence. Use the following links to access the Relative Strength Index and Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index and Lane's Stochastic bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help. The weekly MACD line is above its signal line since December 15, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help. Short-term trend: [See CAT short-term trend chart] A short-term uptrend had started on February 13, 2024 at 310.79 and reached 347.29 on March 15, 2024. CAT gained -36.50 points, or -11.74%, in 31 days. The chart has formed a Rising Channel chart pattern. Daily Technical Indicators: [See CAT daily technical indicators chart] Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. Daily MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bearish divergence. The daily MACD line is above its signal line since March 14, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
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