Deere & CompanyLong
Will it be a continued upside? Following CAT?
DE's long-term trend has been intact, and the recent break into a new high has sparked a new high for this producer manufacturing stock. However, will Trump's tariffs derail it? Regardless, DE.US could be a long-term play going forward. Price action
The stock has broken out of the corrective downtrend channel, confirming the uptrend resumption. The weekly chart shows a strong upside after breaking above the weakened resistance, confirming the ascending triangle. Furthermore, the RSI momentum is strong and the 20, 50, and 200 EMAs are trending strongly.
https://www.tradingview.com/x/90Zosilv/
Momentum
Long-term MACD's histogram is negative but weak. The signal line is looking to cross above and may resume the upside momentum.
The stochastic Oscillator (62, 12, 12) had a crossover at the 50-line and this signal a high potential resumption of the mid-term upside momentum.
The rate of change managed to rise sharply above the zero line.
Volume and Trend strength are in a healthy stage. Both are displayed by volume and Directional movement index.
Potential Risk:
The stock is trending near the all-time high with strong parabolic rise. There may be wild and wide pullback, hence my stop loss will be wide.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.