Caterpillar seeks a bottom to bolster it - Analysis - 18-11-2022

Caterpillar's stock (CAT) fell in the intraday levels amid negative signals from the RSI, while seeking a bottom to bounce it higher anew, amid the dominance of the upward short-term trend, with positive pressure from the 50-day SMA.

Therefore we expect the stock to return higher, targeting the pivotal resistance of 237.90, provided the support of 219.50 holds on.

Expected trend for today: Bullish