Chart of the Day: Caterpillar (CAT)

A key level of resistance has formed on the Caterpillar Inc. (CAT) chart.  If this market continues to rally everyday, this level could be eclipsed soon…

Caterpillar (CAT) is the largest manufacturer of heavy equipment, power solutions, and locomotives. While the company has seen reduced demand due to the coronavirus, its cash and liquidity remain strong. Cash and short-term investments were $8.8 billion through the second quarter. The company has also reduced discretionary expenses and suspended 2020 base salary increases due to the pandemic.

Take a look at the 1-year chart of CAT below with added notations…

See chart and continue reading at STOCKNEWS.com