17.03.2015 - Caterpillar's stock price reached a strong support
Caterpillar shares continued to fall, and returned to a strong support level at 78.70. If the price fixates below this mark, quotes will continue to fall to 72.00 and 70.00. At the moment, the quotes are moving above the upper boundary of the descending channel and can rebound upwards from the level of support that matches the local minimum. In case of growth, a buy signal will be fixation the price above the level of 86.00. We expect the price correction in the near future, but the medium-term view is negative.