A key Rising Wedge has formed on CAT. Analyze the breakout level now.
Reversal pattern. Price likely to break downwards.
Bullish continuation if preceding move was up.
Indecision. Widening then narrowing range.
A clear signal has emerged for Caterpillar Inc. (CAT) on the daily chart. Price has moved to $869.22 (-0.38%) amidst recent volatility. Price action has carved out a classic Diamond. Volume is average (0.28x avg) with moderate trend strength (8.3). A potential breakout level is identified at $931.35, targeting $1109.68 with support near $842.18 (R:R 2.0).
What is your outlook on CAT?