A key Bullish Flag has formed on CAT. Analyze the breakout level now.
Bullish continuation if preceding move was up.
Consolidation. Can break either way.
Bullish continuation pattern.
Reversal pattern. Price likely to break downwards.
Sideways movement between parallel supports.
Market participants tracking Caterpillar Inc. should note the latest formation. Currently at $717.22, the asset is showing downward momentum (-1.79%). Algorithmically, a Bullish Flag structure has completed. This setup is supported by average volume turnover. A potential breakout level is identified at $740.01, targeting $937.04 with support near $664.57 (R:R 2.61).
What is your outlook on CAT?