Rising Wedges/Divergence

lauralea Updated   
NYSE:CAT   Caterpillar, Inc
CAT had earnings this morning. I am not sure but I think something was not as expected in the earnings report.

Bearish Rising wedges noted.

A bearish crooked W noted that reached just beyond the 1.414.

Market opened as I type and I see price fell out of the small rising wedge at the top. Rising wedges are valid only after the bottom trendline is broken.

There is a bearish divergence between price action and the oscillator, RSI .

Good luck/No recommendation.

Price is above the .236 of the trend up.
Rectangle below price that may provide support.
Consolidation zone that will break one way or the other.

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