Home Sectors Industrials Chart of the Day: Caterpillar’s High Basing Pattern

Chart of the Day: Caterpillar’s High Basing Pattern

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September 18, 2024

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Caterpillar began the year with a strong rally before entering an extended pause. But now some traders may think the Dow Jones Industrial Average member is ready to start moving again.

The first pattern on today’s chart is the low in June, the lower low in August and this month’s higher low. That’s a potential high basing pattern that may suggest new …

For more, please click here to view the related idea and chart analysis on TradingView.

Caterpillar (CAT), *daily chart, with selected patterns and indicators, courtesy of TradingView*.

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