S&P500 vs Caterpillar (CAT) Stock Performance from 01Apr2014 to 22Nov2019
Caterpillar (CAT) is a global corporation, and its stock has been facing the full impact of the uncertainty and slowdown created by US-China trade war. The stock is currently breaking out from a double bottom pattern and moving up for target $165-170 level, from the current price of $143 per share. The early buy signals came at $120 level.
Stock Trading Strategy: The right time to buy Caterpillar (CAT) stock is when the market is badly down along with this stock price beaten down for global recession fears. Mining industry has been down for many years, so Caterpillar may get some positive growth from the recovery in global mining industry. Caterpillar is truly a long term investor’s stock, and it has created big gains for investors buying the stock on deep corrections.
20 Jan 2011: Wall Street tracked declines in equities around the world after growth in gross domestic product in China accelerated to a 9.8% rate in the final quarter of 2010. The faster-than-forecast growth rate bolstered concerns that China would do more interest-rate hikes to control inflation, thereby reducing Chinese demand for commodities and raw materials, potentially derailing the global economic recovery.
US stocks were in constant search of direction the whole day. For every five stocks climbing, nine fell on the NYSE, with nearly 1.2 billion shares traded. Stocks suffered a big loss in the initial trading hours but managed to move up later in the day as better than expected economic data tried to pull up stocks. A strong dollar and concerns that China might go for further tightening of its macro economic policies put a brake on this. Continue reading Positive US Economic Data supports US stocks – 20 Jan 2011