Caterpillar Inc Stock Forecast
Is Caterpillar Inc stock still a buy after falling -7.02% on Thursday?
(Updated on Apr 25, 2024)
The Caterpillar Inc stock price fell by -7.02% on the last day (Thursday, 25th Apr 2024) from $363.52 to $338.00. During the last trading day the stock fluctuated 3.52% from a day low at $330.32 to a day high of $341.94. The price has fallen in 7 of the last 10 days and is down by -9.13% for this period. Volume has increased on the last day by 4 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 6 million shares were bought and sold for approximately $2.15 billion.
Given the current short-term trend, the stock is expected to rise 20.68% during the next 3 months and, with a 90% probability hold a price between $407.89 and $476.15 at the end of this 3-month period.
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CAT Signals & Forecast
There are few to no technical positive signals at the moment. 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 $356.18 and $358.17. 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 -10.89%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Caterpillar Inc stock
Caterpillar Inc finds support from accumulated volume at $321.40 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 $11.62 between high and low, or 3.52%. For the last week the stock has had daily average volatility of 2.57%.
Caterpillar Inc is oversold on RSI14 (15). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
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 Friday 26th
For the upcoming trading day on Friday, 26th we expect Caterpillar Inc to open at $336.75, and during the day (based on 14 day Average True Range), to move between $328.00 and $348.00, which gives a possible trading interval of +/-$10.00 (+/-2.96%) up or down from last closing price. If Caterpillar Inc takes out the full calculated possible swing range there will be an estimated 5.92% 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 (2.65%) than the support at $321.40 (4.91%), 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -2.291 Sell Candidate Downgraded
Predicted Opening Price for Caterpillar Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $336.75 ( 0.369%) | $338.00 |
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 | 348.37 | 3.07 % | |
| R2 | 343.93 | 1.76 % | ||
| R1 | 341.19 | 0.94 % | ||
| Current price: | 338.00 | |||
| Support | S1 | 332.31 | -1.68 % | |
| S2 | 329.57 | -2.49 % | ||
| S3 | 325.13 | -3.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 364.56 | 7.86 % | |
| R2 | 363.52 | 7.55 % | ||
| R1 | 346.97 | 2.65 % | ||
| Current price | 338.00 | |||
| Support | S1 | 321.40 | -4.91% | |
| S2 | 315.09 | -6.78% | ||
| S3 | 307.69 | -8.97% |
CAT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 10, 2024 | Apr 19, 2024 | May 20, 2024 | $1.30 | 0.385% |
| 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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