February 27, 2021

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How to trade Caterpillar $CAT With Risk Controls

The MarketWatch News Department was not involved in the creation of this content.

Price matters most to making money in the market. Celebrating 20 years, Stock Traders Daily provides the tools that help you develop investment strategies, and this is a good example. When we couple this with our market based analysis, the probabilities of going with the flow increases, and that is material over time.

Jan 25, 2021 (Stock Traders Daily via COMTEX) —
The Caterpillar (NYSE: CAT) report below can help you, but we have more details too. The trading plans for CAT, and the other 1000+ stocks we follow, are updated in real time for subscribers, but this report is static. If you want an update, or a different report, please get one here Unlimited Real Time Reports.

Technical Summary

Bias

Strong

Strong

Strong

P1

0

0

154.18

P2

190.16

190.61

172.46

P3

192.64

195.39

189.26

Long Term Trading Plans for CAT

January 25, 2021, 1:45 pm ET

The Technical Summary and Trading Plans for CAT help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this CAT Report.

CAT – (Long) Support Plan

The technical summary data tells us to buy CAT near 172.46 with an upside target of 189.26. This data also tells us to set a stop loss @ 171.96 to protect against excessive loss in case the stock begins to move against the trade. 172.46 is the first level of support below 189.03 , and by rule, any test of support is a buy signal. In this case, support 172.46 is being tested, a buy signal would exist.

CAT – (Short) Resistance Plan

The technical summary data is suggesting a short of CAT as it gets near 189.26 with a downside target of 172.46. We should have a stop loss in place at 189.81though. 189.26 is the first level of resistance above 189.03, and by rule, any test of resistance is a short signal. In this case, if resistance 189.26 is being tested, a short signal would exist.

COMTEX_379466800/2570/2021-01-25T14:09:28

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The MarketWatch News Department was not involved in the creation of this content.