$CAT is a company that makes a lot of different equipment including a Scraper. As a stock, is it finally scraping bottom?
Let’s take a look at several different views of the Daily chart to get some perspective. Here is a view with a Trend Line drawn:
This Trend Line break is a recent move, but can price overtake it from below?
Now let’s change out the lens for a different view. Here is a Daily chart with a Horizontal Support line drawn:
This view casts a slightly different light on things. So far price has avoided a test of support and is hovering just above. Note the 5 RED volume bars in a row leading up to today.
What is the probability here for the next price move?