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Oh, Deere

This is a syndicated repost published with the permission of Slope of Hope – Technical Tools for Traders. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.

Toljaso!

A recover bounce is bound to happen soon enough, but in a year I suspect existing shareholders would have wish they would have sold, even at these prices.

1 Comment

  1. Andrew

    Hey Tim,
    I’ve got a chart of DE going back to 1984 showing a well defined channel. DE has hit the upper trendline 4 times in the past, and every time has quickly (months) pulled back to the lower trendline of the channel. In about six months the rise of the lower trendline will put it at $200, but DE has broken below that trendline three times, including last March.
    I would still expect a banner quarter coming for earnings, but how much demand has been pulled forward by purchases using forgivable PPP loans. Might be years before people need new iron. CAT not looking all that great either.

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