Caterpillar Inc., (CAT) Elliott Wave technical analysis [Video]
|CAT Elliott Wave technical analysis
Function: Trend.
Mode: Motive.
Structure: Impulsive.
Position: Wave (iii) of {iii}.
Direction: Upside within wave {iii}.
Details: Looking for upside into Minute wave {iii} as we seem to be taking off 350$.
CAT Elliott Wave technical analysis
Function: Trend.
Mode: Motive.
Structure: Impulsive.
Position: Wave v of (iii).
Direction: Upside in wave v.
Details: We seem to be missing upside within subminuette wave v. Looking for continuation higher to then top in Minuette wave (iii).
This analysis focuses on the current trend structure of Caterpillar Inc., (CAT) utilizing the Elliott Wave Theory on both the daily and 1-hour charts. Below is a breakdown of the stock's position and potential future movements.
CAT Elliott Wave technical analysis – daily chart
Caterpillar (CAT) is showing bullish strength as price action breaks above the key $350 level, suggesting the beginning of a strong move in Minute wave {iii}. The impulsive structure signals continuation higher, aligning with the broader uptrend. Further confirmation would come with sustained price action above recent highs.
CAT Elliott Wave technical analysis – One-hour chart
On the intraday chart, CAT appears to be completing the final leg of subminuette wave v within Minuette wave (iii). The price structure suggests one more push to the upside before a potential pullback in wave (iv). Watch for resistance near key technical levels as the impulsive wave matures.
Caterpillar Inc., (CAT) Elliott Wave technical analysis [Video]
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.