Caterpillar (CAT) – Resurrection of Industrials – Jan 17th, 2020
Bullish: CAT $147.87 – Industrials
IV Percentile: 39%
The bullish DailyPlay we chose for Friday, Jan 17th is Caterpillar (CAT). CAT is part of the Industrial Sector (XLI). XLI has rallied 3.34% higher over the past month and its 1m and 6m trend turned bullish on Jan 10th and recently but has found support around $59.
Caterpillar’s 1m and 6m trend turned bullish on Dec 19th and recently bounced higher off its $145 support level. With a technical score of 6 (out of 10), CAT is a neutral stock that is starting to turn higher.
As a stop loss, if CAT was to trade below $145 for multiple days, this would invalidate our analysis and suggest cutting losses on the trade.