Colin Cieszynski
Deere & Co.
DE-N
TRADE
Jul 18, 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.
One of top ideas. Great company that underpins industrial economy. Excellent chart that is representing a good buying opportunity. Would buy this stock.
Not exactly undervalued. Volatile. Range-bound until recent uptrend. Impacted by commodity prices and interest rates. Cost-cutting, lowering forecasts. Business remains under pressure. 11% upside to street's target. Wait to see where the stock's going. Yield of 1.5%.
(A Top Pick Jun 04/24, Up 15.7%)Stockchase Research Editor: Michael O'Reilly
Our PAST TOP PICK with DE has achieved its target at $425. To remain disciplined, we recommend covering half the position at this time and maintaining the stop at $49..
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.
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.