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- 1 CAT Stock price broke below the 50 EMA curve, demonstrating bearishness.
- 2 CAT stock price, at press time, was $298.81.
CAT stock price halted near the value of $293.81 and turned bearish. Caterpillar stock price took multiple rejections from the supply zone showcasing buyers’ efforts to surpass the supply zone.
Caterpillar stock price under the control of bears, broke 50 EMA support level and is heading towards the 100 EMA. However, it could be a trap for the short sellers because the stock price is currently near its demand zone. CAT stock price dropped by 0.74% this month and dropped by 3.77% this week.
At press time, CAT stock was trading at $269.52 with an intraday minor loss of 1.73%, breaking below the 50-day EMA, showing bearishness on the charts. Moreover, the intraday trading volume is 1.756 Million less than the average 10-day volume of 2.278 Million. The market cap of CAT stock is $137.494 Billion.
CAT Stock: What Next – $300 or $250?
On the daily timeframe, CAT stock price is below the 20 and 50 EMA curves, showing bearishness in the recent sessions. RSI is currently trading at 40.78 points and the 14 SMA curve is trading at 51.61 points. The RSI curve is heading towards the oversold zone, demonstrating a bearish trend.
MACD is trading at -0.3782, and the signal line is currently trading at 1.27 above the MACD curve heading downwards. MACD curve showcased bearishness in CAT stock price on the daily chart. Overall, the indicators are bearish and are in the negative territory.
Short-Time Horizon Analysis
Caterpillar stock price has shown sellers’ strength, and profit booking in the stock was noted on the short-term charts. Moreover, the price is below the key EMAs, which shows further weakness in the stock. The RSI curve is near the oversold region at 35, and a negative outlook was noted, indicating bearishness in the stock. The MACD shows red bars, a bearish crossover was noted, implying corrective moves.
Summary
CAT stock price is bearish. It is below the 20 and 50 EMA curves on the daily timeframe. The stock price took multiples rejection from its supply zone of $293 and facing bearishness on the lower levels. The MACD, RSI, and EMAs are bearish.
Technical Levels
- Support Levels: $256.19 and $231.11
- Resistance Levels: $281.27 and $293.74
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
