Ion Jauregui - Analyst at ActivTrades The global electric vehicle market is regaining prominence in 2026, supported by a key factor: the sustained increase in fuel prices. After months of uncertainty regarding a slowdown in the sector, recent data reflects renewed momentum in sales and a structural shift that continues to consolidate. In 2025, electric vehicles reached around 25% of global sales, and the trend remains upward this year. China remains the undisputed leader in the sector, although it shows some internal weakness following the withdrawal of subsidies. However, its export capacity continues to grow, increasing competitive pressure in international markets. Europe is also reflecting this change in trend. Rising fuel costs have accelerated demand for electric vehicles, with a 49% increase in March and a market share close to 19%. United Kingdom stands out within the region with a 23% penetration rate. In Asia, adoption is advancing at a faster pace. Singapore leads with 56%, followed by Thailand (28%) and Indonesia (21%). At a structural level, the trend is clear: internal combustion vehicle sales have been declining since 2019, while the global electric fleet is doubling approximately every 18 months. Corporate drivers: batteries, scale, and margins Within this context, market focus is shifting toward major players capable of capitalizing on this second wave of growth: CATL The Chinese battery giant continues to act as the backbone of the global electric ecosystem. Its competitive advantage is based on economies of scale, vertical integration, and leadership in LFP battery technology—key factors in a cost-compression environment. CATL functions, in market terms, as a leading indicator for the sector: its ability to reduce prices without eroding margins is critical to accelerating mass adoption. The focus remains on competitive pressure and the slowdown in the domestic Chinese market. Technical Analysis (AT: CAT) The long-term structure remains clearly bullish. In the medium term, after reaching highs in February, the price entered a corrective phase with sideways movement, serving as a consolidation process. On March 31, a new upward impulse was triggered, pushing the asset to recent highs of $830.79. Currently, the price remains in a free rise, supported by a favorable moving average crossover and trading above the 50-period moving average, reinforcing the bullish bias. RSI stands in overbought territory (70.5%), indicating strength but with potential for a technical pause. MACD remains in positive territory with a stable histogram, suggesting momentum continuation, albeit with contained volume. Technical scenario: Immediate resistance: $840 First support: $788.31 Key supports: $661.59 and POC zone at $576.61 As long as it remains above the first support, the structure continues to favor bullish extensions, contingent on earnings. Tesla Tesla is entering a transition phase after years of exponential growth, prioritizing volume over margins through price adjustments. This strategy pressures short-term profitability but strengthens its positioning in the race toward “triple parity.” The market remains focused on software monetization and production efficiency as key drivers. Technical Analysis (AT: TSLA) The underlying trend remains bullish, although the asset is undergoing an adjustment phase in the short and medium term. After peaking at $498.83, the price developed a structure of lower highs and lower lows, finding a bottom on April 9. In recent sessions, Tesla has attempted to recover key levels, closing at $376.30, although it has not yet reclaimed the lost support zone at $382.78. Moving average crossovers indicate a bearish bias in the short term, reflecting recent selling pressure. Indicators: RSI in neutral territory, without extreme signals MACD converging toward equilibrium, with a decreasing bullish histogram Technical scenario: Key recovery zone (POC): $435 Immediate resistance: $382.78 Key support: $337.24 The asset is in a high-volatility phase, with potential short-term sideways movement. Trend reversal will depend on sustained recovery of resistance levels. General Motors General Motors continues executing its transition toward electrification, supported by modular platforms and economies of scale. Although progress is slower than pure players, the market values its cash generation capacity and diversification. The main challenge remains balancing investment with margin preservation. Technical Analysis (AT: GM) The long-term structure maintains a bullish bias, although the price is currently in a compression phase, narrowing between the 50 and 100 moving averages. This consolidation is supported by the 200 moving average, forming a key technical zone around the point of control at $81.21. The February highs at $87.62 remain a key reference. A sustained breakout above the POC, supported by a strengthening moving average crossover, could enable a new bullish leg toward those levels. Indicators: RSI in neutral territory (52.58%), with no clear directional pressure MACD positive but weak, suggesting early momentum pending confirmation Technical scenario: POC / key support: $81.21 Main resistance: $87.62 The asset is in a definition phase, with bullish potential dependent on fundamental catalysts, particularly earnings. The ActivTrades US Market Pulse indicator signals balanced risk following a previous week marked by institutional inflows, suggesting potential upcoming shifts after this technical pause in positioning, possibly materializing this week. Market conclusion The resurgence of electric vehicles is not merely cyclical but structural. The combination of elevated energy prices, technological advancements, and regulatory pressure is realigning the sector’s fundamentals. In this environment, the value chain—from batteries to manufacturers—will be निर्णative. It is precisely here where names such as CATL, Tesla, and GM are concentrating market attention in this new phase of the cycle. ******************************************************************************************* The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication. All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance and forecasting are not a synonym of a reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acting on the information provided does so at their own risk. Political risk is unpredictable. Central bank actions can vary. Platform tools do not guarantee success.

NYSE:CAT The main lesson in this chart is not simply that price pulled back and later showed reclaim behavior. What makes this structure useful is that the same pullback can offer two very different entry styles, and their trade quality is not the same. Structurally, the chart can be read like this: price first formed a strong First Wave then entered a Pullback the key question is not whether to chase the prior expansion, but how to re-enter after the pullback In this chart, I would separate the entries into two styles: 1. Aggressive Entry This is taking a position earlier as the pullback starts to stabilize, before reclaim is fully confirmed. Advantages: usually a better price often better R:R if the read is correct Trade-offs: more judgment risk buyers may not have fully regained control yet if wrong, the trade usually fails faster 2. Reclaim Entry This is waiting for price to reclaim the high of the down bar within the pullback, which effectively means waiting for confirmed reclaim. Advantages: stronger structural confirmation continuation becomes easier to judge Trade-offs: usually a higher entry than the aggressive approach if reclaim happens too far above invalidation, R:R may begin to deteriorate So the real lesson here is not that one entry style is always better. The real lesson is: the same setup may be valid, but the quality of the trade changes depending on how you choose to enter. For more aggressive traders, the earlier entry may offer better price and stronger R:R, but only if they accept being proven wrong sooner. For more conservative traders, the reclaim entry offers more confirmation, but at the cost of a less attractive price. The key idea is simple: not every valid setup has to be traded in the same way. What matters is whether the chosen entry matches your risk tolerance, your need for confirmation, and your R:R framework. Educational example only, not financial advice.

NYSE:CAT The most useful lesson in this chart is not simply that price is pushing higher within a strong primary trend. It is that the same structure can offer multiple entry styles, and the trade quality of those entries can be very different. Structurally, this chart can be broken into three phases: a clear First Wave a sharp upside expansion a Pullback, followed by a possible Reclaim What makes this example educational is the comparison between three different execution styles: 1. Entry when BO Entering on the initial breakout allows earlier participation in momentum. The advantage is getting in sooner, but the downside is that if price pulls back quickly after the breakout, the position can become uncomfortable fast, and not every breakout gets strong follow-through. 2. Aggressive Entry Entering during the pullback, before full reclaim confirmation, can offer a better price and earlier positioning. But it also comes with greater judgment risk. At that stage, price may simply be stabilizing temporarily, not necessarily proving that buyers have fully regained control. 3. Reclaim Waiting for price to reclaim the key area offers more structural confirmation. It can make continuation easier to judge. However, the trade-off is that entry usually comes at a higher price, and if reclaim happens too far above invalidation, the R:R may start to deteriorate. So the real lesson here is not that one method is always best. The real lesson is: the same setup can be valid, while the trade quality changes depending on the entry style. For more conservative traders, reclaim provides clearer confirmation. For more aggressive traders, the earlier entry may offer better price, but they must accept being wrong faster. And chasing the breakout itself depends heavily on immediate follow-through. The key idea is simple: not every valid setup should be bought in the same way. What matters is whether the chosen entry fits your risk tolerance, your need for confirmation, and your R:R framework. Educational example only, not financial advice.

Caterpillar has been in a steady uptrend, and some traders may see potential for continued upside. The first pattern on today’s chart is the rally to new highs after earnings beat estimates on January 29. Second, the industrial giant stalled in late February and slid in early March. That produced a falling trendline which prices broke this week. Third, Tuesday’s session saw a lower low versus Monday and a higher high. That kind of outside candle is a potentially bullish pattern. Next, a higher weekly low may suggest the presence of buyers. Finally, CAT is holding its rising 50-day simple moving average. It’s also back above the 21-day exponential moving average. Those signals may reflect bullishness in the intermediate and short terms. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. If you're born to trade, we could be for you. Learn more here about TradingView’s Broker of the Year! Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com . Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com . System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors. Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges. TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com for further important information explaining what this means.

Current Price: 693.99 (Analysis was generated on Monday Morning) Direction: SHORT Confidence level: 58%(Several professional traders highlight risk-off conditions, rising volatility, and dead cat bounce behavior across equities and commodities, which historically pressures cyclical names like Caterpillar. Limited CAT-specific bullish conviction keeps confidence moderate.) Targets Target 1: 675 Target 2: 655 Stop Levels Stop 1: 710 Stop 2: 725 Key Insights: Here’s what’s driving this setup. Several professional traders are openly cautious on the broader market, highlighting rising VIX expectations, weak breadth readings, and wave structures that still point lower. CAT, as a capital‑intensive cyclical tied to construction, mining, and energy capex, rarely swims against that tide for long. Even when oversold bounces appear, traders repeatedly frame them as temporary relief rather than trend reversals. What really stands out is the repeated use of the phrase “dead cat bounce” across different asset classes. Traders applied it to equities, oil, and commodities. That’s important because CAT sits right at the intersection of all three. If oil and industrial metals fail to hold recent rebounds, capital spending expectations usually compress quickly, and CAT tends to reprice lower in sympathy. Recent Performance: CAT has held up better than many cyclicals, trading near the upper end of its recent range around the $690–$700 zone. That relative strength is exactly why traders are cautious here. When the broader market weakens, leaders often become sources of liquidity. The stock hasn’t broken down yet, but it’s stalling while volatility pressure builds underneath the surface. Expert Analysis: Several professional traders I’m tracking emphasized that oversold conditions can produce sharp bounces, but they don’t see confirmation of a durable bottom. Breadth indicators and macro structure still suggest unfinished downside. In that context, CAT looks more like a short‑term sell into strength than a fresh long. The lack of CAT‑specific bullish price targets from traders reinforces that this isn’t where conviction sits right now. News Impact: There’s no major Caterpillar‑specific news changing the picture this week. Instead, macro news dominates: geopolitical risk, commodity volatility, and tightening financial conditions. That kind of news flow usually hurts confidence in heavy equipment demand, especially when traders already expect slowing global growth. Trading Recommendation: Putting it all together, I’m taking a SHORT stance on Caterpillar for this week. The trade thesis is simple: strong stock, weak environment. I’m targeting a pullback toward $675 first, with $655 as a stretch if risk‑off accelerates. I’d respect the trade if CAT reclaims strength above $710–$725, because that would signal the market is ignoring macro stress — but right now, the balance of trader wisdom says caution.

Caterpillar shows a Regime Shift Structure on the long-term chart. For decades the stock followed a largely cyclical pattern, reflecting the nature of global industrial demand and capital expenditure cycles. Major expansions were typically followed by extended corrective phases as economic conditions evolved. A structural transition emerged around 2016–2017, when price broke above the upper boundary of the long-standing cyclical range. This breakout signalled a shift into a new structural expansion regime. Since that period, price behaviour has been characterised by a strong impulsive advance, suggesting that the market has moved into a higher structural regime relative to earlier cycles. This analysis is part of the ongoing S&P 500 Structural Census, a project documenting long-term structural behaviour across major equities. Disclaimer This study focuses on structural observation and is not intended as financial advice. #SP500Census #MarketStructure #StructuralAnalysis #Caterpillar #CAT

Team, We are not buying now. Price is still trading below major descending resistance (R). As long as we are below R, the structure remains under pressure. ✅ What We Are Waiting For We only buy if: Price breaks above the descending resistance (R) A candle closes clearly above it We see strength (no immediate rejection wick) Ideally: a small pullback that holds above R No breakout = no trade. 🟢 Entry Plan (After Confirmation) Once price: Breaks above R Retests and holds

Jim Cramer on Caterpillar (CAT): A Call to Bring Back the Individual Investor as the Stock Rides the AI Infrastructure Wave Caterpillar Inc. (NYSE:CAT), the iconic American manufacturer of construction and mining equipment, has become one of the most closely watched stocks on the market, and it recently found itself in the spotlight of famed investor Jim Cramer. With the stock posting eye-popping gains—up 124% over the past year and another 28% year-to-date in 2026—Cramer's remarks have added a layer of cultural and retail-investor-focused commentary to a story already rich with institutional interest and fundamental shifts . Cramer's message was direct and, for some, surprising given the stock's meteoric rise. He urged the company's leadership to focus on re-engaging the everyday investor, stating, "I want to say to people, like the CEO of Caterpillar, it is time, you've got to go back to what used to happen, to get the individual investor in your stock. There's no way that Caterpillar, a great American company, should have its stock at 749." His sentiment suggests that despite the stock's impressive ascent to around the $750 level, he believes there is both a disconnect and an opportunity: the company's value proposition and narrative may not be fully resonating with the retail audience that once formed the bedrock of its shareholder base . The New Engine: AI Data Centers and the Power & Energy Unit To understand why Cramer is talking about Caterpillar, and why the stock is at these levels, one must look beyond the traditional cycles of housing starts and mining capex. The company is in the midst of a profound transformation in how the market perceives it, driven overwhelmingly by demand from an unexpected source: artificial intelligence (AI). The surge in CAT stock is largely attributed to the exploding need for reliable, on-site power to fuel the nation's rapidly expanding network of AI data centers . As utilities struggle with interconnection queues and the need for massive grid upgrades, data center developers are increasingly turning to on-site power generation. This is where Caterpillar has stepped into the spotlight. Its Power & Energy unit, which produces industrial natural-gas generators and turbines, has become the company's standout performer . In the fourth quarter of 2025, this segment posted a staggering 23% growth, reaching $9.4 billion in sales, and has effectively become Caterpillar's largest revenue contributor . This strength helped drive record full-year revenue of $67.6 billion and build a record backlog of $51 billion, signaling that demand—particularly for power solutions—is not just strong, but accelerating . Wall Street Takes Notice: BofA's Bullish Upgrade This fundamental shift has not gone unnoticed by institutional analysts. Bank of America recently provided a powerful endorsement, raising its price target on Caterpillar to $825 from $735 and maintaining a Buy rating . The BofA analysts specifically pointed to the demand for Caterpillar's turbines from sectors outside of data centers as well, using this diversification to argue that fears of excess or "frothy" demand in the AI power space may be unwarranted. They see a durable, multi-year cycle for power generation that supports a re-rating of the entire company . However, the analyst community is not monolithic in its optimism. While BofA's $825 target represents the high end of the spectrum, other firms have struck a more cautious tone. Bernstein recently maintained a Hold rating with a $678 price target, and there has been notable insider selling, including a recent transaction by Group President Rodney Shurman, which can sometimes give momentum-focused investors pause . The wide range of price targets—from a low of $425 from Morgan Stanley to BofA's $825—underscores the intense debate on Wall Street about how much of the AI-powered growth is already priced into the stock . Financial Strength and Lingering Risks Underpinning the bull case is Caterpillar's robust financial performance. The company generated a staggering $9.5 billion in free cash flow in 2025, allowing it to return $7.9 billion to shareholders through dividends and buybacks . This financial discipline provides a solid floor for the investment thesis. Yet, significant risks remain. The company faced $1.7 billion in tariff-related headwinds in 2025 and expects those costs to increase by another $800 million in 2026, which could pressure margins . Furthermore, while the Power & Energy segment booms, other areas like Resource Industries have shown weakness due to lower coal prices affecting mining sales . The Verdict: A Stock at a Crossroads For investors considering Cramer's implicit question—should you buy Caterpillar here?—the answer is nuanced. The company has successfully pivoted its narrative from a cyclical industrial play to a critical enabler of the AI revolution. The record backlog and the surge in the Power & Energy unit provide tangible evidence that this is more than just hype . The stock's 270% total return over five years and its consistent outperformance of the broader industrials sector validate that the strategy is working . However, with a forward P/E hovering around 33, the stock is undeniably priced for perfection . The risk lies in whether the AI data center buildout can sustain its torrid pace and whether Caterpillar can navigate tariff pressures and potential slowdowns in its legacy businesses . For the long-term investor who believes in the secular trend of AI infrastructure buildout, Caterpillar offers a rare combination of deep industrial roots and high-tech growth exposure. For the trader looking at the 28% year-to-date gain, the question Cramer poses is whether the individual investor—who has largely been on the sidelines—will now be the marginal buyer to push the stock past the $800 mark and beyond

CAT follow up part 2 Here is the CAT on the weekly chart. This is what I expect on the retrace. The target is where there are 3 factors: the 50% fib retracement, the top of the upsloping parallel, and the daily gap fill at about 526. You can also use the EMA line for further confluence. There might be one more push up. The even number of 800 is interesting. The general market (S&P 500) will be a determining force.

CAT part 1 Look at CAT on the monthly chart. The red vertical lines show what happens when the red momentum red dot happens when above the 65 level line on momentum oscillator chart. To see it better, go to the weekly chart and zoom in on each vertical line to see the measurements. Also, please take note that on some there were minors losses before the gains. However, there was one that was about a 15% loss before the gain. This is when it is important to look for divergences on lower timeframes after reaching monthly levels and do dollar cost averaging for entries. These moves are important for getting an average move so that we can a target for the current move. With the figures below, we can expect an average move of 26%. In part 2 for this chart, we will use another chart to see confluence with other factor to see the target. 10/2/1972 14% 7/1/1976 19% 7/1/1981 49% 5/1/1986 32% 10/1/1987 44% 9/1/1993 5% 1/5/2004 15% 2/7/2005 9% 10/3/2005 14% 5/1/2006 27% 5/2/2011 39% 7/28/2014 43% 1/29/2018 29% 6/1/2021 34% 4/29/2024 9% 12/2/2024 32% Average = 26%