Caterpillar Inc. (CAT) stock price extended its gains in its latest intraday trading, as the stock successfully overcame the negative pressure from its 50-day SMA. This comes amid the dominance of a primary bullish trend on the medium term, with price moving alongside a minor short-term trendline supporting this path. In the background, positive signals are beginning to emerge from the Stochastic indicator after the stock managed to ease its overbought conditions, giving it more room to extend its gains in the near term.

Therefore we expect the stock price to rise during its upcoming trading sessions, as long as support at $664.55 remains intact, targeting the key resistance level at $789.80.

Todays price forecast: Bullish