/biz/ - Business & Finance

Bros why the FUCK are analysts so fucking useless? Here's something I found by Argus Research
>CAT is in either a long-term uptrend, long-term downtrend, or longterm consolidation. This excludes the bear markets in 2008/2009, 2015/2016, the pandemic, and 2022.
>After peaking at an all-time high on 1/27/23 at $263, the stock was smacked, falling to $208 in April, and then to $206 by late May. During the bottoming process (March to early June), CAT traced out a bullish wedge, completing the pattern on June 2 with very heavy volume. The shares rose until June 15, traced out a bull flag back to the 21-day exponential, and have crawled higher, peaking on 8/1 at $289. Based on the size of the recent base, the stock could see a measured move to $300 or higher.

These faggots are literally saying that line goes up, down, or sideways. I looked at the charts myself
>Above 50 MA but below 20 MA
>Both are still sloping upwards
>25% surprise on ER, huge volume, candle, and gap up
>Previous pivots at 240.11 and 265.21 now providing support
>Fib levels at 259.56 and 242.97, depending on where you drew the valley

If you look at the ATR of 5.92, it's probably going to hit 300 in the next 10-20 days and I can also see it trending upwards to 328-340 based on technicals over a longer period (fib levels), say 30-45 days