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Advanced TA SearchArchive
- 4/26/2024 -
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Caterpillar Inc. (CAT) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was the negative week for the Caterpillar Inc. (CAT). During the week, the CAT dropped -11.28 points, or -3.18%, and closed at 343.38 on Friday, April 26, 2024. Weekly volume was 23% above average.
CAT is a member of Industrials Sector. Industrials is the second 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 382.01 on April 8, 2024. CAT gained -221.41 points, or -137.86%, in 79 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (252.03) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 382.01 on April 8, 2024. CAT gained -158.25 points, or -70.72%, in 22 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (357.89) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. CAT may retest the broken support line. It is considered to be a resistance line now. 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 support in a medium-term trend.
 Weekly Technical Indicators: [See CAT weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish 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 link to access Lane's Stochastic 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. Use the following link to access a MACD help.
 Short-term trend: [See CAT short-term trend chart]
A short-term downtrend had started on April 8, 2024 at 382.01 and reached 330.32 on April 25, 2024. CAT lost 51.69 points, or 13.53%, in 17 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See CAT daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Daily Lane's Stochastic has bullish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since April 9, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.
During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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