Stock Chart Analysis DE
Deere & Company (Public, NYSE:DE)
DE had a strong rejection of the $70 area when the stock started to rollover in January. If this were towards the end of a trend you could call it a V bottom or tweezer bottom, but regardless of where it formed, the message was clear: buyers were waiting for it to dip. It broke over the 50 sma a couple of days ago and looks like it is resting for another push. It settled on the 20 sma today in a pretty negative tape and if it can get back over $88, then I think it will cruise over $90 and head back to new highs.
Good Trading,
Joey
for more analysis, check out downtowntrader.com
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