Caterpillar Inc Stock Forecast
Red day on Tuesday for Caterpillar Inc
(Updated on Jul 02, 2024)
The Caterpillar Inc stock price fell by -0.401% on the last day (Tuesday, 2nd Jul 2024) from $329.08 to $327.76. During the last trading day the stock fluctuated 1.39% from a day low at $325.58 to a day high of $330.09. The price has been going up and down for this period, and there has been a 1.66% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -291 thousand shares and in total, 2 million shares were bought and sold for approximately $686.52 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -11.95% during the next 3 months and, with a 90% probability hold a price between $263.88 and $300.33 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CAT Signals & Forecast
There are mixed signals in the stock today. The Caterpillar Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $328.79 and $337.34. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 1.96%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Caterpillar Inc stock
Caterpillar Inc finds support from accumulated volume at $327.57 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $4.51 between high and low, or 1.39%. For the last week the stock has had daily average volatility of 1.76%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CAT) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Caterpillar Inc to open at $327.81, and during the day (based on 14 day Average True Range), to move between $321.10 and $334.42, which gives a possible trading interval of +/-$6.66 (+/-2.03%) up or down from last closing price. If Caterpillar Inc takes out the full calculated possible swing range there will be an estimated 4.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $327.57 (0.06%) than the resistance at $329.13 (0.42%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Caterpillar Inc stock A Buy?
Caterpillar Inc holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.278 Sell Candidate Unchanged
Predicted Opening Price for Caterpillar Inc of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $327.81 ( 0.0153%) | $327.76 |
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 | |
|---|---|---|
| R3 | 332.32 | 1.39% |
| R2 | 330.60 | 0.87% |
| R1 | 329.53 | 0.541% |
| Price | 327.76 | |
| S1 | 326.09 | -0.510% |
| S2 | 325.02 | -0.84% |
| S3 | 323.30 | -1.36% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 338.00 | 3.12% |
| R2 | 334.57 | 2.08% |
| R1 | 329.13 | 0.418% |
| Price | 327.76 | |
| S1 | 327.57 | -0.0580% |
| S2 | 325.14 | -0.799% |
| S3 | 321.47 | -1.92% |
CAT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 22, 2024 | Jul 22, 2024 | Aug 20, 2024 | $1.41 | 0.430% |
| 2 | Apr 10, 2024 | Apr 19, 2024 | May 20, 2024 | $1.30 | 0.358% |
| 3 | Dec 13, 2023 | Jan 19, 2024 | Feb 20, 2024 | $1.30 | 0.414% |
| 4 | Oct 20, 2023 | Oct 20, 2023 | Nov 20, 2023 | $1.30 | 0.519% |
| 5 | Jun 14, 2023 | Jul 20, 2023 | Aug 18, 2023 | $1.30 | 0.475% |
FAQ
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