Deere in the Headlights?
Deere has been one of the better-performing members of the S&P 500 since the summer, but now it could be hitting resistance.
The main pattern on today’s chart is the falling parallel channel along the highs of April, August and October. The farm supplier probed that resistance on Friday before reversing along with the rest of the market. Could it now push lower into the channel?
Second, notice how the rejection occurred at the 50-day simple moving average (SMA) and 200-day SMA. Failure to remain above those SMAs could reflect a bearish trend.
Third, stochastics are dipping from an overbought condition.
Finally, other agricultural stocks like
Mosaic and 
CF Industries fizzled last week after trying to rally. A continuation of that trend could potentially weigh on DE.
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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.
The main pattern on today’s chart is the falling parallel channel along the highs of April, August and October. The farm supplier probed that resistance on Friday before reversing along with the rest of the market. Could it now push lower into the channel?
Second, notice how the rejection occurred at the 50-day simple moving average (SMA) and 200-day SMA. Failure to remain above those SMAs could reflect a bearish trend.
Third, stochastics are dipping from an overbought condition.
Finally, other agricultural stocks like
Mosaic and CF Industries fizzled last week after trying to rally. A continuation of that trend could potentially weigh on DE.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. You Can Trade, Inc. is also a wholly owned subsidiary of TradeStation Group, Inc., operating under its own brand and trademarks. 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.
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