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Construction Machinery & Heavy Trucks Industry Stocks Technical Analysis - CATArchive
- 11/8/2024 -
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Caterpillar Inc. (CAT) Technical Analysis
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| Summary:
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| | It was a first positive week after 3 consecutive negative weeks for the Caterpillar Inc. (CAT). During the week, the CAT gained 13.80 points, or 3.64%, and closed at 393.40 on Friday, November 8, 2024. It was the best weekly gain since September 27, 2024. Weekly volume was 16% above 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 418.50 on November 7, 2024. CAT gained -257.90 points, or -160.59%, in 110 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 330.70 and resistance is at 413.54. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.
 Medium-term trend: [See CAT medium-term trend chart]
A medium-term uptrend had started on August 5, 2024 at 307.05 and reached 418.50 on November 7, 2024. CAT gained -111.45 points, or -36.30%, in 13 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 372.32 and resistance is at 435.03. 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 Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. Weekly 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 weekly MACD 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 and Williams' Percentage Range help.
The weekly MACD line is above its signal line since September 20, 2024. This is an indication that the medium-term trend is up. 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 October 30, 2024 at 367.20 and reached 418.50 on November 7, 2024. CAT gained -51.30 points, or -13.97%, in 8 days. The price is now at the 48.93% retracement level.
 Daily Technical Indicators: [See CAT daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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