Unusual dark pool activity and bullish option flow occurred in Caterpillar $CAT stock on October 13, 2022.
Dark Pool Trade In $CAT Stock On October 13 2022
An unusual dark pool trade occurred in $CAT stock on October 13, 2022. We think the dark pool trade was an institutional investor increasing a long position because of how $CAT stock rose following the print.
Make sure to review this lesson on dark pool trading so that you understand the chart above.
Bullish Option Flow In $CAT Stock
Bullish option flow occurred in Caterpillar $CAT stock on October 13, 2022.
Make sure to review this lesson on option flow so that you understand the image above.
Of particular interest is the $195 call option that expires on December 16, 2022. Volume exploded higher in this call option contract on October 13, 2022.
Caterpillar price target lowered to $196 from $222 at Deutsche Bank
On October 13, 2022, Deutsche Bank analyst Nicole Deblase lowered the firm’s price target on Caterpillar to $196 from $222 and kept a Buy rating on the shares. The setup this quarter for the multi-industry group feels nearly identical to the last as the market remains volatile, with bear rallies sprinkled in between sharp pullbacks, as recessionary indicators flash red, Deblase told investors in a research note. A pullback in consumer spending/residential construction is still evident, although a few other neighboring industries have more recently flagged deterioration, including transports, chemicals, and autos, says the analyst. Nicole Deblase remains in a holding pattern, waiting for negative commentary and downward earnings revisions.
Caterpillar price target raised to $220 from $205 at JPMorgan
On October 6, 2022, JPMorgan analyst Tami Zakaria raised the firm’s price target on Caterpillar to $220 from $205 and kept an Overweight rating on the shares after attending the company’s dealer finance conference. End user demand commentary remains broadly positive, especially for large equipment, while some dealers cited some cancellations in residential-focused smaller equipment orders, Zakaria told investors in a research note. Tami Zakaria expects resilient demand and improving deliveries for Caterpillar against muted investor expectations.
Caterpillar expands construction portfolio with four battery electric machines
On October 4, 2022, Caterpillar announced that they will display four electric machine prototypes, including battery prototypes, at bauma 2022 Oct. 24-30 in Munich, Germany. “Caterpillar is well positioned to help customers reach their sustainability goals, including lowering emissions on the jobsite,” said Construction Industries Group President Tony Fassino. “It’s important we meet customers on their sustainability journey today with a variety of solutions including machines that run on renewable fuels or technology that increases fuel efficiency, as well as supporting them into the future as we power our next generation of machines.”
Caterpillar $CAT Stock Technical Analysis
Caterpillar $CAT stock is in a technical downtrend. The stock is in a giant bearish wedgeThe wedge chart pattern is a technical analysis tool used by traders to identify potential buying or selling opportunities. It consists of three converging trend lines, which meet ... pattern. Long-term indicators suggest a continuation of the downtrend.