Caterpillar receives positive support - Analysis - 25-01-2022

Caterpillar's stock (CAT) added 0.11% in the last session, after leaning on the 50-day SMA and lending it positive momentum that pared the losses, settling thereafter at 214.33, while buoyed by piercing the downward correctional trend line recently, as the RSI reached oversold levels compared to the stock's movements.

Therefore we expect the stock to rise and target the first resistance at 223.18, provided it settles above the support of 212.00.

Expected trend for today: Bullish