Caterpillar Inc Stock Forecast
Caterpillar Inc stock upgraded to Buy Candidate.
(Updated on Apr 22, 2024)
The Caterpillar Inc stock price gained 0.83% on the last trading day (Monday, 22nd Apr 2024), rising from $354.66 to $357.61. During the last trading day the stock fluctuated 2.48% from a day low at $353.24 to a day high of $362.00. The price has fallen in 8 of the last 10 days and is down by -4.25% for this period. Volume fell on the last day by -327 thousand shares and in total, 2 million shares were bought and sold for approximately $708.22 million. 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 $355.90 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 24.21% during the next 3 months and, with a 90% probability hold a price between $442.05 and $488.00 at the end of this 3-month period.
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CAT Signals & Forecast
A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -5.72%. 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). Some positive signals were issued as well, and these may have some influence on the near short-term development. The Caterpillar Inc stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $359.71. On a fall, the stock will find some support from the long-term average at approximately $356.54. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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.
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.
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 $8.76 (2.48%) between high and low. For the last week, the stock has had daily average volatility of 2.32%.
Our recommended stop-loss: $340.91 (-4.67%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (CAT) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Caterpillar Inc to open at $357.62, and during the day (based on 14 day Average True Range), to move between $349.46 and $365.76, which gives a possible trading interval of +/-$8.15 (+/-2.28%) up or down from last closing price. If Caterpillar Inc takes out the full calculated possible swing range there will be an estimated 4.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $359.88 (0.63%) than the support at $321.40 (10.13%), 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 $5.14. 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 of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.350 Buy Candidate Upgraded
Predicted Opening Price for Caterpillar Inc of Tuesday, April 23, 2024
Fair opening price April 23, 2024 | Current price |
---|---|
$357.62 ( 0.0019%) | $357.61 |
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 | 366.38 | 2.45 % | |
R2 | 363.03 | 1.52 % | ||
R1 | 360.96 | 0.94 % | ||
Current price: | 357.61 | |||
Support | S1 | 354.27 | -0.93 % | |
S2 | 352.20 | -1.51 % | ||
S3 | 348.86 | -2.45 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 371.98 | 4.02 % | |
R2 | 364.56 | 1.94 % | ||
R1 | 359.88 | 0.635 % | ||
Current price | 357.61 | |||
Support | S1 | 321.40 | -10.13% | |
S2 | 315.09 | -11.89% | ||
S3 | 300.77 | -15.89% |
CAT Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 10, 2024 | Apr 19, 2024 | May 20, 2024 | $1.30 | 0.364% |
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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