Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Caterpillar Inc. (NYSE: CAT) shareholders aren't happy in 2015. The stock is down nearly 10 percent year to date and almost 20 percent over the past 12 months.
In a recent report, JC Parets of Eagle Bay Capital looked into Caterpillar's performance from a technical perspective.
Parets explained that, structurally, Eagle Bay wanted to stay away from Caterpillar “since it broke the uptrend line from late 2013.”
After a severe sell-off, he noted they “wanted to be buying down under 80." The stock currently trades above this area at $82.50.
Related Link: 2 Apple Charts This Pro Is Watching
"This area," Parets added, "has served as support since 2012 and also represents the 38.2% Fibonacci retracement of the 2008-2011 rally.”
Parets noted that momentum coming out of "oversold conditions on this correction would be a positive."
He sees the beginnings of such a move despite poor relative strength.
"This still looks an area we want to be accumulated shares structurally," he concluded.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!