Caterpillar moves in tight range - Analysis - 23-11-2020

Caterpillar's stock (CAT) fell 0.39% in the last session with negative signals from the RSI, while the stock trades in a tight range amid attempts to gather momentum and vent off overbought saturation, amid the dominance of the main upward trend in the medium term, with support from the 50-day SMA. 

Therefore we expect the stock to rise and target the resistance of 184.55, provided it holds above 170.40. 

Expected trend for today: Bullish