Gordon Reid Deere & Co. DE-N PAST TOP PICK Feb 07, 2024

Looking back 2-3 years, bounces back and forth between $340 and $430. Recent downswing from April-July, finding support around $350. However, started to bounce over last 2 days, encouraging. First resistance $410-415, next at $430-435, with the $400 round number in between. Trading upswing within a long-term trading range.

He expects a weak quarter on Thursday. Share prices are falling due to farmer incomes, which should turn around. Price crops should increase. Deere has controlled inventory.

We need better ag machines to feed the world, ever-demanding more food, and Deere is front and center of that. They use big data to reduce crop nutrients, so they are on the leading edge of farming. Is a little concerned about their financing. But this is good the next 5-10 years.

Long-term chart demonstrates the excellent business and operations. We all need to eat. Focus going forward will be autonomous farming vehicles -- it will sell software to farmers as well as equipment. Valuation will ebb and flow with food and commodity prices, as well as the economy. He stays away from commodity-type businesses.