CAT - Long Opportunity
Technical:
- Cup and handle breakout pattern has formed and is playing out
- Price is holding up well above 200 EMA
- Strong uptrend is confirmed. As long as price is above 200 EMA, will continue holding.
Fundamentals:
- Catalyst may be the reopening of Chinese economy boosting demand for energy and natural resources, which in turns boost demand for industrial and mining machineries
- Boost from the recent infrastructure bill and the Inflation Reduction Act
I see this as a stock that I can hold for 2023 or longer, as stock is on the uptrend. Will only consider exiting if price breaks below 200 EMA and a change in trend is confirmed.
- Cup and handle breakout pattern has formed and is playing out
- Price is holding up well above 200 EMA
- Strong uptrend is confirmed. As long as price is above 200 EMA, will continue holding.
Fundamentals:
- Catalyst may be the reopening of Chinese economy boosting demand for energy and natural resources, which in turns boost demand for industrial and mining machineries
- Boost from the recent infrastructure bill and the Inflation Reduction Act
I see this as a stock that I can hold for 2023 or longer, as stock is on the uptrend. Will only consider exiting if price breaks below 200 EMA and a change in trend is confirmed.
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