Caterpillar Inc Stock Forecast
Caterpillar Inc stock price ended at $363.52 on Wednesday, after gaining 0.0743%.
(Updated on Apr 24, 2024)
The Caterpillar Inc stock price gained 0.0743% on the last trading day (Wednesday, 24th Apr 2024), rising from $363.25 to $363.52. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.58% from a day low at $358.90 to a day high of $368.17. The price has fallen in 7 of the last 10 days and is down by -2.3% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 800 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $948.69 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $358.13 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 22.22% during the next 3 months and, with a 90% probability hold a price between $437.69 and $481.93 at the end of this 3-month period.
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CAT Signals & Forecast
The Caterpillar Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $359.31 and $358.10. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -4.16%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Caterpillar Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $321.40 and $315.09. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Caterpillar Inc finds support just below today's level at $321.40. If this is broken, then the next support from accumulated volume will be at $315.09 and $300.77.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $9.27 between high and low, or 2.58%. For the last week the stock has had daily average volatility of 2.28%.
Our recommended stop-loss: $346.35 (-4.72%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (CAT) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Caterpillar Inc to open at $363.53, and during the day (based on 14 day Average True Range), to move between $355.31 and $371.73, which gives a possible trading interval of +/-$8.21 (+/-2.26%) up or down from last closing price. If Caterpillar Inc takes out the full calculated possible swing range there will be an estimated 4.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $364.56 (0.29%) than the support at $321.40 (11.59%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Caterpillar Inc will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $5.12. We will update the financials statements for Caterpillar Inc, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.64% in the first trading day after earnings release.
Is Caterpillar Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Caterpillar Inc stock to perform well in the short-term.
Current score: 4.176 Buy Candidate Unchanged
Predicted Opening Price for Caterpillar Inc of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $363.53 ( 0.0018%) | $363.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CAT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 372.80 | 2.55 % | |
| R2 | 369.26 | 1.58 % | ||
| R1 | 367.07 | 0.98 % | ||
| Current price: | 363.52 | |||
| Support | S1 | 359.99 | -0.97 % | |
| S2 | 357.80 | -1.57 % | ||
| S3 | 354.26 | -2.55 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 373.47 | 2.74 % | |
| R2 | 371.98 | 2.33 % | ||
| R1 | 364.56 | 0.286 % | ||
| Current price | 363.52 | |||
| Support | S1 | 321.40 | -11.59% | |
| S2 | 315.09 | -13.32% | ||
| S3 | 300.77 | -17.26% |
CAT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 10, 2024 | Apr 19, 2024 | May 20, 2024 | $1.30 | 0.358% |
| 2 | Dec 13, 2023 | Jan 19, 2024 | Feb 20, 2024 | $1.30 | 0.414% |
| 3 | Oct 20, 2023 | Oct 20, 2023 | Nov 20, 2023 | $1.30 | 0.519% |
| 4 | Jun 14, 2023 | Jul 20, 2023 | Aug 18, 2023 | $1.30 | 0.475% |
| 5 | Jun 14, 2023 | Jul 19, 2023 | Aug 18, 2023 | $1.30 | 0.475% |
FAQ
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