Quarterly report can support Caterpillar, but the risks of decrease are high

02 august 2022 25
Ivan__Titov
Ivan__Titov

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Caterpillar’s shares have won back half of the drawdown after the wave of decline from the June maximum of 232 to the July minimum of 167. The rebound has stopped near the round level of 200.  

 

The reversal "harami cross" has formed on the chart, and RSI has already reached the overbought. Today's quarterly report tries to support the quotations, in this case, the leap towards 208 is possible.   

 

If the report strengthens the reversal signals, Caterpillar will aim for the level of 183.

Ivan__Titov
Ivan__Titov

Listed among the best MarketCheese authors
3rd in the segment "Indices"
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