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Caterpillar Crawling Into Support

March 10, 2015 By Jeff White

CAT is trending lower and has been since it reached a 2-year high last July. However, the stock is quickly approaching key support, now less than 3% away.

That support has been intact since the summer of 2012, or almost 3 years. There is zero guarantee it will hold if reached, but it led to a bounce last month and belongs on watch in case this area holds again.

Here’s a chart:

CAT

With IV rank at 49% and multi-year support coming into view, puts have become a bit richer. A lasting turn will take time even if it happens, but the big test appears nigh.

Jeff

Filed Under: Stocks & Options

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