Finally breaking out of the long-term triangle/consolidation pattern.
Unfortunately I can’t trade ahead of earnings due to incalculable risk. That is one of my main rules of trading as there is no way to predict how the numerous variables that go into the earnings report will playout in the company’s stock price.
ANd I for one know that I can’t predict how it will affect a stock price either.
However, if the opportunity presents itself after the 23rd when they report, I will look into getting Caterpillar (CAT) at or slightly above $87 with a stop-loss around $85.75.
Here’s the technical analysis for CAT:
