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Caterpillar ( CAT) provides construction and mining equipment, diesel and natural gas engines and industrial gas turbines. It also provides financing alternatives to its customers. This stock is trading up 1.2% at $84.91 in recent trading.

Today's Volume: 12.3 million

Average Volume: 7.5 million

Volume % Change: 185%

Shares of CAT moving notably higher here after the company reported better-than-expected results for the third quarter, but tempered forecasts for the full year and predicted ongoing difficulty in Europe

>>5 Stocks Ready to Break Out .

From a technical perspective, CAT is bouncing higher here right around some near-term support at $81.61 with monster volume. This move is quickly pushing CAT within range of triggering a near-term breakout trade. That trade will hit once CAT manages to take out some near-term overhead resistance at $87.53 with high volume.

Traders should now look for long-biased trades in CAT once it manages to sustain a move or close above $87.53 with volume that hits near or above 7,501,150 shares. If that breakout triggers soon, then look for CAT to re-test or possibly take out its next major overhead resistance levels at $93.71 to $94.95.

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