$CAT has been mostly in a “Go” trend since early May.
Only a few amber “Go Fish” bars in early September interrupted what has been a strong period for the industrial giant. That uncertainty in September came as GoNoGo Oscillator was caught up in a Max GoNoGo Squeeze that was eventually broken to the upside. Since then, we have seen further higher highs and GoNoGo Oscillator at or above the zero line. Recently, we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term. Although GoNoGo Trend was able to continue painting strong blue bars, we have seen GoNoGo Oscillator fall to test the zero line from above. In a strong show of resurgent momentum we see the oscillator bounce back into positive territory on heavy volume. This has triggered a Go Trend Continuation Icon (green circle) to appear under the price bar. We will watch to see if this gives price the push it needs to set another higher high in the coming days.
