Caterpillar Inc Stock Forecast
Caterpillar Inc stock price up 1.59% on Friday
(Updated on Apr 26, 2024)
The Caterpillar Inc stock price gained 1.59% on the last trading day (Friday, 26th Apr 2024), rising from $338.00 to $343.38. During the last trading day the stock fluctuated 2.12% from a day low at $338.33 to a day high of $345.50. The price has fallen in 6 of the last 10 days and is down by -6.09% for this period. Volume fell on the last day by -3 million shares and in total, 3 million shares were bought and sold for approximately $1.06 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 $339.03 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 19.28% during the next 3 months and, with a 90% probability hold a price between $404.38 and $470.83 at the end of this 3-month period.
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CAT Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 $354.05 and $358.26. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -9.47%. 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
Caterpillar Inc finds support from accumulated volume at $338.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $7.17 (2.12%) between high and low. For the last week, the stock has had daily average volatility of 2.50%.
Caterpillar Inc is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
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 Monday 29th
For the upcoming trading day on Monday, 29th we expect Caterpillar Inc to open at $342.40, and during the day (based on 14 day Average True Range), to move between $333.55 and $353.21, which gives a possible trading interval of +/-$9.83 (+/-2.86%) up or down from last closing price. If Caterpillar Inc takes out the full calculated possible swing range there will be an estimated 5.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $346.97 (1.05%) than the support at $338.00 (1.57%), 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.
Is Caterpillar Inc stock A Buy?
The Caterpillar Inc stock holds several negative signals and despite the positive trend, we believe Caterpillar Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.324 Sell Candidate Unchanged
Predicted Opening Price for Caterpillar Inc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $342.40 ( 0.284%) | $343.38 |
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 | 349.57 | 1.80 % | |
| R2 | 346.83 | 1.01 % | ||
| R1 | 345.14 | 0.513 % | ||
| Current price: | 343.38 | |||
| Support | S1 | 339.66 | -1.08 % | |
| S2 | 337.97 | -1.57 % | ||
| S3 | 335.23 | -2.37 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 364.56 | 6.17 % | |
| R2 | 363.52 | 5.87 % | ||
| R1 | 346.97 | 1.05 % | ||
| Current price | 343.38 | |||
| Support | S1 | 338.00 | -1.57% | |
| S2 | 321.40 | -6.40% | ||
| S3 | 315.09 | -8.24% |
CAT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 10, 2024 | Apr 19, 2024 | May 20, 2024 | $1.30 | 0.379% |
| 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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