Trading Idea for Caterpillar Inc. (NYSE)

#CAT

The overall trend is upward. The bears are testing the price pivot zone of 225.60 and the lower border of the ascending price channel. Stochastic Oscillator signals oversold conditions.

Trading idea:

Buy when an ascending wave pattern is formed, where the wave (A) breaks through the inclined channel of the descending pattern.

Stop loss under the local minimum (225.60).

Target level: 245.70.