Whipsawing now that the earnings short squeeze is over. Looks to me like a H&S type pattern, expecting weakness before the Fed meeting next week.
Looks to me like it'll back test the old resistance next week, note that this chart is NOT dividend adjusted. What happens after will depend on the Fed, so I will wait until after the press conf to play this again.
Looks to me like it'll back test the old resistance next week, note that this chart is NOT dividend adjusted. What happens after will depend on the Fed, so I will wait until after the press conf to play this again.
Comment:
The last couple of years PCAR rallied in Jan then dropped and bottomed during the summer, so watch out for that. It's not the kind of stock that should be going parabolic, but CAT is also at ATH.
Comment:
Fed meeting Wed.
Comment:
I'm not trading this, but if you shorted it, the target is around $105.5.
I might play the bounce after the Fed meeting depending on what he market does. Not shorting it.
I might play the bounce after the Fed meeting depending on what he market does. Not shorting it.
Comment:
CAT and GM earnings before market open tomorrow, PCAR has been trending with industrial stocks like CAT so watch for that tomorrow.
Comment:
OSHKOSH and CAT missed on earnings, surprised PCAR is still green.