CAT Elliott Wave Analysis Trading Lounge Daily Chart,Caterpillar Inc., () Daily ChartCAT Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Minute {iii}.DIRECTION: Upside into wave (v) of {iii}.DETAILS: Looking for continuation higher within wave {iii}, which could eventually reach 500$.(Click on image to enlarge)
CAT Elliott Wave Analysis Trading Lounge 1H Chart,Caterpillar Inc., (CAT) 1H ChartCAT Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Wave iii.DIRECTION: Micro wave 5 of iii.DETAILS: Looking for at least one more leg higher within wave iii as we seem to have been correcting in micro wave 4 and are now resume higher towards 400$.(Click on image to enlarge)
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*On the daily chart, Caterpillar Inc. is advancing in an impulsive motive structure within Minute Wave {iii}. The stock is progressing higher and currently in Wave (v) of {iii}. This suggests that there is further upside potential, with $500being the projected target for the completion of Wave {iii}.The stock continues to exhibit strong bullish momentum, and traders should look for continuation higher, particularly as the move approaches critical resistance levels.* CAT Elliott Wave Technical Analysis – 1H Chart*On the 1-hour chart, Caterpillar appears to be progressing within Wave iii, and specifically within Micro Wave 5 of iii. After completing a corrective phase in Micro Wave 4, the stock is now resuming its upward movement, with the next upside target likely around $400.This final leg within Wave iii suggests at least one more push higher before a potential corrective phase begins. Traders should watch for any resistance near $400, which could trigger some short-term consolidation before further upside.Technical Analyst : Alessio BarrettaMore By This Author:
Caterpillar Inc. Elliott Wave Technical Analysis
