Caterpillar Inc. (CAT) – Elliott Wave Forecast – Trading Lounge (Daily Chart)
CAT Technical Analysis Summary
FUNCTION: Trend
MODE: Motive
STRUCTURE: Impulsive
POSITION: Wave {iii} of 1
DIRECTION: Uptrend toward completion of Wave {iii}
DETAILS: Wave {iii} has extended to 2.618x the size of Wave {i}, indicating maturity
Caterpillar Inc. (NYSE: CAT) continues to show strong bullish momentum on the daily chart, moving through a clear impulsive Elliott Wave pattern. The stock is currently advancing in Wave {iii} of Wave 1, with price action extending approximately 2.618 times the length of Wave {i}, a typical Fibonacci ratio that often marks the completion of Wave {iii}. This extension signals that a short-term high could be forming. While the long-term trend remains bullish, traders should be alert for potential resistance levels and consolidation signals that may precede the development of Wave {iv}.
Caterpillar Inc. (CAT) – Elliott Wave Forecast – Trading Lounge (1-Hour Chart)
CAT Technical Analysis Summary
FUNCTION: Trend
MODE: Motive
STRUCTURE: Impulsive
POSITION: Wave (v) of {iii}
DIRECTION: Uptrend nearing end of Wave (v)
DETAILS: Price action targets $400 area as Wave (v) finalizes
On the 1-hour chart, Caterpillar (CAT) is nearing the final phase of its current bullish impulse, progressing through Wave (v) of Wave {iii}. The stock is approaching the $400 resistance level, signaling the potential completion of Wave (v). As this sub-wave wraps up, traders should anticipate a corrective Wave {iv}, which may offer a new buying opportunity aligned with the ongoing Elliott Wave structure. Close attention to intraday indicators and exhaustion signals is essential for optimizing trade entries and exits.
Technical Analyst: Alessio Barretta
Source: Visit Tradinglounge.com and learn from the Experts. Join TradingLounge Here
Previous: Fortinet Inc. (FTNT) Elliott Wave Technical Analysis
VALUE Offer - Buy 1 Month & Get 3 Months!Click here
Access 7 Analysts Over 200 Markets Covered. Chat Room With Support
