Welcome to Our Latest Elliott Wave Analysis for Caterpillar Inc. (CAT)
In this comprehensive Elliott Wave analysis of Caterpillar Inc. (CAT), we delve into CAT's price movements using the Elliott Wave Theory. This analysis aims to provide traders with valuable insights into potential trading opportunities based on the current market structure. We will examine both the daily and 1-hour charts to offer a well-rounded perspective on CAT's price action.
CAT Elliott Wave Analysis – Trading Lounge Daily Chart
Caterpillar Inc. (CAT) Daily Chart Analysis
CAT Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Minuette wave (v)
Direction: Upside into wave (v)
Details: We are currently anticipating an upward movement into wave (v) as the correction in wave (iv) appears to have concluded. The price rebound from $300 suggests a potential rise towards the Medium Level at $400 with wave (v).
Caterpillar Inc. CAT Technical Analysis – Daily Chart
After completing a corrective wave (iv), CAT has sharply rebounded from the $300 level. This significant bounce indicates that wave (v) is likely underway, with the potential to advance towards the Medium Level at $400. The completion of wave (v) could mark the end of the current impulsive cycle, presenting a crucial phase for traders to monitor for potential profit-taking or the onset of a new corrective phase.
CAT Elliott Wave Analysis – Trading Lounge 1H Chart
Caterpillar Inc. (CAT) 1H Chart Analysis
CAT Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave iii of (v)
Direction: Upside in wave iii
DETAILS: Looking for a potential 1-2 within sub-minuette wave iii, or else we could be in a leading diagonal in wave i, with what is labelled as wave 1 and 2, as wave 3 and 4 of the diagonal.
CAT Elliott Wave Technical Analysis – 1H Chart
The 1-hour chart suggests that CAT is likely progressing within subminuette wave iii of (v). There are two possible scenarios unfolding: (1) a traditional 1-2 structure within wave iii, or (2) the formation of a leading diagonal, where what is currently labeled as waves 1 and 2 could actually be waves 3 and 4 of the diagonal. In either case, the structure implies further upside as wave iii completes and moves towards wave v.
Technical Analyst: Alessio Barretta
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