Caterpillar sharpens decline - Analysis - 27-02-2020

Caterpillar's stock kept falling in the short term, while settling below the resistance of 131.09, representing the ratio 50% of Fibonacci retracement levels for an ascending wave in the medium term, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI, marking a final 0.58% loss. 

Therefore we expect more losses for the stock, targeting the next support at 126.52, representing the ratio 61.8% of the same retracement levels. 

Expected trend for today: Bearish