Caterpillar exposed to negative pressure - Analysis - 11-06-2021

Caterpillar's stock (CAT) skidded 3.8% in the last session, surpassing the support of the 50-day SMA and exposing it to negative pressure, parking thereafter at the main upward trend line in the medium term as a last chance to gather positive momentum to return higher. 

Therefore we expect the stock to return higher, targeting the first resistance of 236.75, provided the support of 223.00 held on.

Expected trend for today: Bullish