Nov. 12 at 12:31 AM
Market Context:
$CAT is currently trading at
$569.49, nearing its 60-day high of
$596.21, indicating a bullish sentiment. The RSI at 68.2 suggests that the stock is approaching overbought territory, which may lead to a pullback.
Directional Bias: The stock shows a strong upward trend, supported by the MA30 at
$531.68 and MA50 at
$497.75. However, the high RSI indicates caution, as a correction could occur before further gains.
Suggested Entry: Consider entering a long position on a pullback to the MA30 at
$531.68 or a break above the recent high of
$596.21.
Stop: Set a stop-loss at
$550 to manage risk, below recent support levels.
Targets: Aim for a first target at
$580, slightly below the 60D high, and a second target at
$590, anticipating a potential breakout.
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