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Caterpillar marked fresh highs 3 times in the last 10 sessions

Published: October 17th, 2020 - 8.03am EDT

Caterpillar Inc. ($CAT) has been systematically topping new highs in the previous days. Caterpillar Inc. ($CAT) price went up yesterday a 2.25% closing at $168.75 and setting the new all-time highs at $170.50.

Yesterday, 6 brokerage companies released ratings on Caterpillar Credit Suisse Group rated Caterpillar with bullish and Wells Fargo & Company forecasts a target price of $220.00, with a rating of neutral. The guidelines issued by financial brokerage firms are not a buy or sell advice for individual traders, so it is not wise to follow them blindly.

Caterpillar stock started an uptrend last May, and grew a gorgeous 69.63%. The chart shows higher peaks and higher troughs, and along the way provided some entry points for those who wanted to enter. Latest low was on September 24, when price bounced at $142.73. On October 8, Caterpillar broke out above its last top ($156.25) offering a good entry point

Caterpillar Inc. manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, feller bunchers, harvesters, motorgraders, pipelayers, road reclaimers, skidders, telehandlers, and utility vehicles; backhoe, knuckleboom, compact track, multi-terrain, skid steer, and track-type loaders; forestry and wheel excavators; and site prep and track-type tractors.. The stock belongs to the Farm & Heavy Construction Machinery industry in the Industrials sector. The firm employs 102,300 people worldwide and it's based in Deerfield, United States. Its corporate website is http://www.caterpillar.com.

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