(Finance) – Great day for Caterpillarwhich is recording a rise of 6.90%.
The promotion from Jefferies analysts contributes to assisting the shares. The experts of the research department have raised the judgment on the stock of the manufacturer of earthmoving machinery bringing it to “buy” from the previous “hold”.
On a weekly basis, the stock’s trend is firmer than the Dow Jones. At the moment, therefore, the appeal of investors is directed more decisively to the giant of construction equipment compared to the reference index.
The medium-term technical status of Caterpillar remains negative. In the short term, however, we see an improvement in the bullish strength, with the curve meeting the first resistance area at USD 213, while supports are estimated at 205.3. The technical implications lean in favor of a new bullish momentum with a target probably estimated in the area of 220.6.