Caterpillar Inc Stock Forecast
Caterpillar Inc stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 24, 2024)
The Caterpillar Inc stock price fell by -0.513% on the last day (Friday, 24th May 2024) from $350.70 to $348.90. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 2.09% from a day low at $346.68 to a day high of $353.91. The price has been going up and down for this period, and there has been a -1.66% loss 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 -72 thousand shares and in total, 3 million shares were bought and sold for approximately $916.63 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.53% during the next 3 months and, with a 90% probability hold a price between $346.46 and $400.30 at the end of this 3-month period.
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CAT Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. On corrections up, there will be some resistance from the lines at $354.91 and $354.30. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -3.82%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Caterpillar Inc stock
Caterpillar Inc finds support from accumulated volume at $343.38 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $7.23 between high and low, or 2.09%. For the last week, the stock has had daily average volatility of 2.38%.
Our recommended stop-loss: $334.56 (-4.11%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (CAT) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect Caterpillar Inc to open at $349.83, and during the day (based on 14 day Average True Range), to move between $340.89 and $356.91, which gives a possible trading interval of +/-$8.01 (+/-2.30%) up or down from last closing price. If Caterpillar Inc takes out the full calculated possible swing range there will be an estimated 4.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $350.70 (0.52%) than the support at $343.38 (1.58%), 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?
Caterpillar Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.577 Hold/Accumulate Upgraded
Predicted Opening Price for Caterpillar Inc of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| $349.83 ( 0.267%) | $348.90 |
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 | 357.06 | 2.34 % | |
| R2 | 354.30 | 1.55 % | ||
| R1 | 352.59 | 1.06 % | ||
| Current price: | 348.90 | |||
| Support | S1 | 347.07 | -0.525 % | |
| S2 | 345.36 | -1.01 % | ||
| S3 | 342.60 | -1.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 351.78 | 0.83 % | |
| R2 | 350.72 | 0.522 % | ||
| R1 | 350.70 | 0.516 % | ||
| Current price | 348.90 | |||
| Support | S1 | 343.38 | -1.58% | |
| S2 | 338.00 | -3.12% | ||
| S3 | 334.57 | -4.11% |
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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