CAT is testing the upper resistance of it's flag-like pattern. Potential next moves - continuation of the bullish rise from earlier in the year as the flag pattern ends..... or a fall back into the channel. With trade fears and steel tariffs, the latter is more likely at this time
You don't start the upper trend line at the January highs? Just wondering. On the daily, I have mine touching 3 peak points. The January highs, May highs, and the June highs. It makes it then appear that price has already broken out above the channel, on Sept. 19th to be exact and at around $149.40. Maybe you're leaving the January highs out on purpose? Skimming over today's options activity on Caterpillar at little tonight. It is going to get interesting. Earnings reported on Tuesday Oct. 19. When I feel like I keep hearing that I should buy Caterpillar, my alarm goes off....and then I get to thinking that maybe this downtrending bullish cup and handle we have going here is nothing but window dressing for a tariff'd decline. Who knows man.