Deere & CompanyLong
Is $DE ready to move higher from here?
Notes:
* Very strong up trend
* Great earnings track record
* Was basing for about a year before volatility kicked it around to both the up and down side of the base
* It's currently back within that base (between 394.4 and 323.5)
* Last weeks close had strong volume coming in (above average)
* Recently came back above the $357.1 mark on the weekly, which seems to be a battle ground for bull and bears (with higher than average volume)
* Was consolidating tightly all of last week with increasing volume and broke out of that consolidation on Friday with abnormally high volume
* Currently offering an early entry and a pocket pivot
Technicals:
Sector: Industrials - Farm & Heavy Construction Machinery
Relative Strength vs. Sector: 1.02
Relative Strength vs. SP500: 1.18
U/D Ratio: 1.2
Base Depth: 53.52%
Distance from breakout buy point: -16.72%
Volume 208.01% above its 15 day avg.
Trade Idea:
* You can enter now as the price is just breaking out of consolidation with higher than average volume
* If you want a better entry you may be able to get one around the 361.9 area if it comes back within the consolidation range
* This stock usually has local tops when the price closes around 13.34% above its 50 EMA
* Consider selling into strength if the price closes 13.14% to 13.54% (or higher) above its 50 EMA
* The last closing price is 8.67% away from its 50 EMA
* Very strong up trend
* Great earnings track record
* Was basing for about a year before volatility kicked it around to both the up and down side of the base
* It's currently back within that base (between 394.4 and 323.5)
* Last weeks close had strong volume coming in (above average)
* Recently came back above the $357.1 mark on the weekly, which seems to be a battle ground for bull and bears (with higher than average volume)
* Was consolidating tightly all of last week with increasing volume and broke out of that consolidation on Friday with abnormally high volume
* Currently offering an early entry and a pocket pivot
Technicals:
Sector: Industrials - Farm & Heavy Construction Machinery
Relative Strength vs. Sector: 1.02
Relative Strength vs. SP500: 1.18
U/D Ratio: 1.2
Base Depth: 53.52%
Distance from breakout buy point: -16.72%
Volume 208.01% above its 15 day avg.
Trade Idea:
* You can enter now as the price is just breaking out of consolidation with higher than average volume
* If you want a better entry you may be able to get one around the 361.9 area if it comes back within the consolidation range
* This stock usually has local tops when the price closes around 13.34% above its 50 EMA
* Consider selling into strength if the price closes 13.14% to 13.54% (or higher) above its 50 EMA
* The last closing price is 8.67% away from its 50 EMA
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.