Potential Long for CAT
- Bouncing off 50EMA & currently oversold
- Bullish Engulfing pattern was formed with a confirmation candle
- Sitting on a support formed by previous high resistance
- Upcoming presidential election may have some impacts on the Infrastructure stocks
Overall the momentum of the "industrials" sector has been on an uptrend since May.
But do take cautions, as the price dip below the 50MA over the past week.
Looking into the industry of "Agriculture" and "Construction", both have been climbing up with an upside momentum.
It has passed all of my checkboxes for a long setup, except the MACD indicator has failed.
Hence I would be very alert when entering the Long trade
- Bouncing off 50EMA & currently oversold
- Bullish Engulfing pattern was formed with a confirmation candle
- Sitting on a support formed by previous high resistance
- Upcoming presidential election may have some impacts on the Infrastructure stocks
Overall the momentum of the "industrials" sector has been on an uptrend since May.
But do take cautions, as the price dip below the 50MA over the past week.
Looking into the industry of "Agriculture" and "Construction", both have been climbing up with an upside momentum.
It has passed all of my checkboxes for a long setup, except the MACD indicator has failed.
Hence I would be very alert when entering the Long trade
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TP hit