ContraryTrader

Caterpillar Breaks out of wedge

Long
NYSE:CAT   Caterpillar, Inc
The breakout distance usually follows the width of the intial wedge entry which was 19%.
First target is 217 which at that point there's usually a pullback with this pattern (See my IBM link).

Second and final target 233.84 which represents a full pattern play out. Momentum could carry this further in ATH highs

All targets are Fibonacci resistance using June 4th high and Oct 13th low