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DEERE & CO CEDEAR EACH 40 REP 1 ORD (USD)DEERE & CO CEDEAR EACH 40 REP 1 ORD (USD)DEERE & CO CEDEAR EACH 40 REP 1 ORD (USD)

DEERE & CO CEDEAR EACH 40 REP 1 ORD (USD)

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DED trade ideas

DE Bull Flag Breakout NYSE:DE is a ticker I have kept my eye on for a little now. It fell into sideways movement after maintaining a strong bullish trend. It formed a bull flag and broke out of the upper bound at the close of the 6.25 session. This is a strong breakout signal supported by a MACD crossover underneath the zero line. This, along with analyst price target upgrade to 165, involvement in agriculture sector that reaps benefit from the recent China Phase 2 deal, and potential 2 trillion dollar infrastructure aid, makes me believe that we may enter a strong bullish trend from this breakout. Keep your eyes peeled
NYSE:DELong
by BullsEyeView
2
Deere & Co Jumps On Farmer Confidence Will possible range between POC and ATH resistance Best to wait for a confirmed breakout before looking to trade the stock. EARNings Highlights (Bloomberg) -- Machinery giant Deere & Co. delivered better-than-expected quarterly results and maintained its outlook for the year as early signs of stabilization in the U.S. farm sector offset a slowdown in construction. Shares surged. “Farmer confidence, though still subdued, has improved due in part to hopes for a relaxation of trade tensions and higher agricultural exports,” Chief Executive Officer John May said in a statement accompanying its fiscal first quarter results. While the CEO didn’t mention the coronavirus in the statement, his comments may help ease concerns about how much the outbreak will delay China’s return to U.S. agricultural markets as laid out in the phase one trade deal. American farmers have been cautious on replacing large equipment, Deere’s top moneymaker. Earnings Highlights Deere maintained its fiscal 2020 guidance, forecasting a range of $2.7 billion to $3.1 billion. That compares with the $2.9 billion average analyst estimate. The company’s cautiously optimistic view on agriculture contrasts with the results of a survey released Thursday in which more than half of U.S. farmers said they planned to spend less on capital equipment this year. Fundamentals for American farming remain challenged with increasing competition from South America and the Black Sea region compounded by a strong dollar. Two of Deere’s peers issued disappointing 2020 outlooks. As Deere reduces production to work through excess inventory and faces weaker demand, Bloomberg Intelligence expects a slow start to fiscal 2020. Precision Ag “The Coronavirus has driven investors to a defensive positioning in machinery and Deere has been the defensive play,” Stephens analyst Ashish Gupta said in a Feb. 18 report. “The long-term thesis centers around Deere coming out the farm machinery winner due to investments in precision ag and we do not think an F1Q results shortfall is likely to change that.” The company reported adjusted earnings of $1.63 a share for the quarter, up from $1.54 a year ago. The average analyst estimate was $1.25. Company-wide sales fell 6%, dragged down by lower construction and forestry shipment volume and unfavorable currency effects. Shares, down 4.3% this year, rose about 7% before the start of regular trading Friday. Investors will be looking for more detail on the company’s prospects for this year in light of coronavirus on a conference call scheduled for 10 a.m. in New York. Source Bloomberg
NYSE:DE
by RedHotStocks