![Caterpillar Inc (CAT): Trading greater within a wave (III), target above $600.00 [Video]](https://www.topdaily.news/wp-content/uploads/2024/10/36191-caterpillar-inc-cat-trading-greater-within-a-wave-iii-target-above-600-00-video.jpg)
Caterpillar Inc., typically called CAT, is a prominent American producer of building and construction and mining devices, diesel and gas engines, commercial gas turbines, and diesel-electric engines. Caterpillar runs worldwide and is understood for its comprehensive line of product, that includes equipment like bulldozers, excavators, wheel loaders, and haul trucks. Listed below we will take a look at the long term Elliott Wave outlook of the business.
Caterpillar quarterly Elliott Wave chart
Quarterly Elliott Wave chart of Caterpillar above (CAT) reveals that the stock extended greater highly within wave (III). The neighborhood of wave (III) is unfolding as a nesting 5 waves impulse. Up from wave (II), wave I ended at 173.24 and dips in wave II ended at 87.50. The stock embedded greater in wave III with wave (( 1 )) ended at 246.69 and pullback in wave (( 2 )) ended at 160.60. Stock ought to continue to extend greater and dips to discover assistance in 3, 7, 11 swing as the stock continues to extend greater in spontaneous structure.
Weekly Caterpillar (CAT) Elliott Wave chart
Weekly Elliott Wave chart of Caterpillar (CAT) above programs that pullback to 160.6 ended wave (( 2 )) on September 26, 2022. Stock has actually resumed greater in wave (( 3 )) with internal neighborhood as an impulse. Up from wave (( 2 )), wave (1) ended at 266.04 and pullback in wave (2) ended at 204.04. Stock rallied greater as a nesting impulse. Wave 1 ended at 293.88 and wave 2 dips ended at 223.76. Wave 3 greater ended at 382.01 and pullback in wave 4 ended at 307.05. Anticipate the stock to continue to extend greater in the spontaneous structure.
Caterpillar (CAT) Elliott Wave [Video]
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