Chart Patterns & Algorithmic Trader (Sep. 21, '20) (60)
CAT Cup & Handle Pattern
s
Reviewed in CPAT 9/7/20
Caterpillar Inc (CAT) is forming a Cup and Handle pattern on its daily chart
and trading near the breakout level of $150.65. C&H patterns are valid only
when price closes above the breakout level. A long trade is entered above
the breakout level with a stop placed below the lowest low of the mid cup
$119.03. Targets are placed at $174.51, $189.5 to $200.1.
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