In Friday's Mad Money program Jim Cramer highlighted a few stocks that are due to report earnings. For example, he mentioned that we'll hear from Caterpillar Inc. (CAT) on Tuesday. It is struggling from Covid-19 Cramer noted.
Let's check out the charts.
In the daily bar chart of CAT, below, we can see that prices made a rebound from the March low, but in recent days prices have given back a fair amount of the rebound. Prices have been trading lower and stopping at the underside of the declining 50-day moving average line.
Trading volume has roughly been declining this month but the On-Balance-Volume (OBV) line shows a slight upward bias suggesting that buyers of CAT have been more aggressive. The Moving Average Convergence Divergence (MACD) oscillator is sitting on the zero line telling us that there is no strength in CAT's trend.