Welcome to our latest Elliott Wave analysis for Caterpillar Inc. (CAT). This analysis delves into CAT's price movements through the lens of the Elliott Wave Theory, aiming to uncover potential trading opportunities based on current trends and market structures. We will examine both the daily and 4-hour charts to provide a thorough perspective on CAT's market behaviour.
CAT Elliott Wave Analysis Trading Lounge Daily Chart
Caterpillar Inc., (CAT) Daily Chart Analysis
CAT Stock Analysis
FUNCTION: Trend
MODE: Impulsive
STRUCTURE: Motive
POSITION: Minute wave (v)
DIRECTION: Upside in wave (v)
DETAILS: We are looking at Minuette wave (iv) reacting to the 0.618 retracement of wave (iv) versus wave (ii). Looking for a bottom in place to then resume the upside trend in wave (v).
CAT Elliott Wave Technical Analysis – Daily Chart
In our Elliott Wave analysis of Caterpillar Inc. (CAT), we observe an impulsive trend pattern with a motive structure. CAT is currently positioned in minute wave (v), indicating an ongoing upward trend. The recent price action shows that Minuette wave (iv) has reacted off the 0.618 retracement level of wave (iv) versus wave (ii), suggesting a potential bottom. This reaction provides a signal that CAT might resume its uptrend into minute wave (v), continuing the impulsive sequence.
CAT Elliott Wave Analysis Trading Lounge 4Hr Chart
Caterpillar Inc., (CAT) 4Hr Chart Analysis
CAT Stock Technical Analysis
FUNCTION: Trend
MODE: Impulsive
STRUCTURE: Motive
POSITION: Sub-minuette i of (v)
DIRECTION: Five waves into wave i
DETAILS: Looking for a micro wave 1-2 in place, expecting further upside into micro wave 3 looking to take off from Minor Group 1 at $330.
CAT Elliott Wave Technical Analysis – 4Hr Chart
In our Elliott Wave analysis of Caterpillar Inc. (CAT), we observe an impulsive trend pattern with a motive structure. CAT is currently positioned in minute wave (v), indicating an ongoing upward trend. The recent price action shows that Minuette wave (iv) has reacted off the 0.618 retracement level of wave (iv) versus wave (ii), suggesting a potential bottom. This reaction provides a signal that CAT might resume its uptrend into minute wave (v), continuing the impulsive sequence.
Technical Analyst: Alessio Barretta
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