Caterpillar Inc Stock Code CAT.NYS
Outlook
Price has moved up from the low into the cloud resistance but volume on the rally has been declining. It is a sign of a weak rally. MACD has also been weak. There is no strong momentum on this current rally. The daily candlesticks are getting smaller with each passing days. This is again a sign of weakness and consolidation. As price approaches the cloud resistance, it could face strong resistances at the $135.10 to $135.60. The latter resistance is the cloud resistance. We believe these 2 strong resistances could force price into a retreat and back to $121.50.
Strategy
$135.00 Short Sell
$121.80 Price Target
$138.80 Risk Management Stop
2 weeks Trade Duration
Devon Energy Corp Stock Code DVN.NYS
Outlook
Since the low on 26th of Dec 2018, price has been climbing up the scale. It has come to a previous low resistance point at $25.89. There is another resistance point at $26.60. While price has been climbing higher, volume has been declining lately, suggesting the rally could be coming to an end. MACD has also been bearish. However, price has moved above Kijun line but is still below the cloud. We think the 8-day rally could be near to an end and in need to a correction.
Strategy
$26.50 Short Sell
$24.30 Price Target
$28.10 Risk Management Stop
2 weeks Trade Duration
