(Teleborsa) – Overwhelming rise for Caterpillar, which shows a burning rise of 2.81% on previous values.
The decision by Cowen analysts to start hedging the stock with an “outperform” rating and a target price of $ 241 contributed to assist the shares.
The movement of the giant of construction equipment, in the week, follows the trend of the Dow Jones, making the stock strongly influenced by the reference market and less by news related to the company itself.
The overall technical environment highlights bearish implications that are strengthening for Caterpillar, with negative bias that would force levels towards the USD 193 support area estimated. Contrary to expectations, however, bullish solicitations could push prices up to 195.2 where there is an important resistance level. The dominance of the bears fuels negative expectations for the next session with a potential target set at 191.7.