CAT has formed a descending triangle since the high in JAN'18 , but also has been trading inside a descending parallel channel since thenNow after last week ER that was actually rather weak, the stock has found some strength and is trying to breakout from the almost 2 year downtrend
MACD positive and histogram green for the past 2 weeks and rising , RSI around 58 with plenty space upwards (remember is weekly chart we are charting)
Look for either RETEST and/or WEEKLY CLOSE above the descending line in order to participate
Targets:
T1 - measured move from the mirror parallel channel is around 168.94
T2 - measured move from the triangle breakout is around 200.08
Good luck,
TA
Trade fechado: stop atingido
No chance with the current economic conditions generated by the pandemicTA
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Aviso legal
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