Caterpillar reports earnings before the bell this Thursday. The company already revealed its hand to the market. Late last month the company let the market know they are going to miss estimates.
For the first time in the 90 year history of Caterpillar they are going to see 4 consecutive years of declining sales. Sales are now off some 30% from the record levels of 2012.
As it stands the stock sits at long term support. A break could send the stock much lower than anyone is expecting.
$60? $50? $40?... it's all on the table once support breaks. The recent move back over $70