Caterpillar – Algo Sell Conditions

Caterpillar was removed from our US model portfolio back in September last year. The lower high formation was punctuated last night following the weaker-than-expected quarterly earnings guidance.

The company pointed to tariffs and a slow down in China as major factors in its disappointing fourth-quarter result.

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Revenue for the quarter was up 11% to US$14.34bn and adjusted earnings came in at US$2.55 per share.

Caterpillar said it now expects 2019 profit to increase to a range of $11.75 to $12.75 per share.

The results were largely below street estimates, which explains the 9% sell-off in the stock.

We’ll wait for the next Algo Engine buy signal before building a new position in CAT.





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