Tuesday, February 21, 2012
Caterpillar CAT
Breakout today for CAT. Daily shows a break of $14.50 May 2011 highs. It feel in the late afternoon trading to test the breakout closing with an inverted hammer. RSI pretty overbought and MACD showing weakness on daily.
The breakout looks really good on the hourly, holding in the late afternoon. Looks ready to go up tomorrow. RSI pointing up and MACD could negate its recent weakness with more strength tomorrow.
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