Deere & Company (DE) – This manufacturer of agricultural equipment, and construction and forestry vehicles fell from a bull market high above $90 in April 2008, to less than $25 in March 2009.
I last commented on this stock on Feb. 3, by drawing attention to it at $35.
Since then, it made a new low, but quickly sprang back and established a consolidation within one of the most followed bull market formations in modern times — the cup-and-handle.
On Nov. 17, DE broke cleanly from the formation with a technical target between $65 and $70.
Deere is recommended as a four-star S&P “buy” with a target price of $65.
The Options Trader’s Guide to Technical Analysis
In his latest report, learn how John Lansing leverages the power of technical analysis to identify the short window when a trade is set to go straight up or down. Get your FREE copy here!
Comments are currently unavailable. Please check back soon.