Stock Chart Analysis DE

Posted by downtowntrader | 2/28/2008 09:33:00 PM | 0 comments »

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,


for more analysis, check out