Will Deere Start Running Again?
Industrial stocks have outperformed in the past month. Today’s chart examines a big name in the sector: farm-equipment maker Deere.
First consider the high basing pattern above $400 so far in 2023. It’s a higher low than the troughs of July and September, potentially establishing new support near the previous all-time high from last April.
Next, DE was relatively extended the last time it challenged resistance. But this time it’s rested, which could make some traders expect a breakout.
Third, you have the pair of bullish gaps in November and February after quarterly results beat estimates. That could suggest investors have a positive fundamental view.
Fourth, MACD has turned higher in recent weeks.
Finally, prices are bouncing at their 50- and 100-day simple moving averages (EMA). The eight-day EMA has also crossed back above the 21-day EMA, a potential sign of short-term momentum shifting toward the bulls.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. 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, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: https://www.tradestation.com/important-information.
First consider the high basing pattern above $400 so far in 2023. It’s a higher low than the troughs of July and September, potentially establishing new support near the previous all-time high from last April.
Next, DE was relatively extended the last time it challenged resistance. But this time it’s rested, which could make some traders expect a breakout.
Third, you have the pair of bullish gaps in November and February after quarterly results beat estimates. That could suggest investors have a positive fundamental view.
Fourth, MACD has turned higher in recent weeks.
Finally, prices are bouncing at their 50- and 100-day simple moving averages (EMA). The eight-day EMA has also crossed back above the 21-day EMA, a potential sign of short-term momentum shifting toward the bulls.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. 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, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: https://www.tradestation.com/important-information.
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมที่ ข้อกำหนดการใช้งาน