$CAT is moving! Macro analysis + technical with boxes.
Hi everyone,
On Saturday US government finally agreed to pass a huge $1 trillion infrastructure bill.
What does that mean?
Utilities, communication, transport and industrial companies will receive subsidiaries for expansion.
So why
CAT?
The biggest construction equipment manufacturer in the world. They will benefit indirectly as companies buy/lease their machines/services for infrastructure construction.
Now the chart.
CAT is already up almost 5% in premarket after the Saturday news.
It has broken out of the box at 208 and now gapped up deirectly to the next minor resistence level at 216.
I expect the stock to temporarily trade in a small box before the surge to 223 level.
LongCAT :)
Let me know what you think.
What other stocks are going up on this news in your opinion?
Trade wisely and good luck!
-----------------------------------------------------------------------------------------------------------------
Disclaimer!!!
This is not financial advise.
On Saturday US government finally agreed to pass a huge $1 trillion infrastructure bill.
What does that mean?
Utilities, communication, transport and industrial companies will receive subsidiaries for expansion.
So why
CAT?The biggest construction equipment manufacturer in the world. They will benefit indirectly as companies buy/lease their machines/services for infrastructure construction.
Now the chart.
CAT is already up almost 5% in premarket after the Saturday news.It has broken out of the box at 208 and now gapped up deirectly to the next minor resistence level at 216.
I expect the stock to temporarily trade in a small box before the surge to 223 level.
Long
CAT :)Let me know what you think.
What other stocks are going up on this news in your opinion?
Trade wisely and good luck!
-----------------------------------------------------------------------------------------------------------------
Disclaimer!!!
This is not financial advise.
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