- DE stock is currently trading at $380.87, with a decline of 1.75% in today’s market session.
- Deere & Company (DE) has a share float of 268 Million.
Deere & Company is engaged in the global production and distribution of a wide range of equipment. The company’s operations are divided into four key segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services.
Deere & Company (NYSE: DE) stock is currently exhibiting an uncertain momentum. The price has recently shown a decline of over 7% in just one week.
DE stock has seen some remarkable growth in the past, surging by over 500% since its low point in May 2016, consistently maintaining an upward trajectory. It reached an all-time high of $450 before experiencing a recent decline of approximately 16%.
Furthermore, the quarterly profit margin and net income have increased. In Q2 2023, the profit margin stood at 16%, which increased to 18.86% in Q3 2023. These positive financial indicators reflect the stock’s strong financial performance.
The price movement of DE stock is currently exhibiting uncertainty, and it needs to break out in either direction from the ascending triangle pattern to establish a clear overall trend.
Corporation (DE) Stock Price Analysis
DE by writer50_tcr on TradingView.com
Technical Indicators’ Overview
DE stock currently presents mixed trading conditions. It is trading above the 100-day Exponential Moving Average (EMA) level but below the 50-day EMA, indicating uncertainty and the potential for a price trend reversal.
Moreover, the RSI line and the simple moving average (SMA) line hover near the 50 level, considered neutral territory. The stock’s future trend will depend on whether it breaks above or below this level.
Furthermore, the moving average convergence divergence (MACD) line is positioned below the signal line, and both lines are above the zero line, signaling a sense of uncertainty in the price behavior. Additionally, a negative crossover has occurred between the two lines, accompanied by the formation of a red histogram.
Additionally, the trading volume of DE stock is declining, as the charts show. This suggests reduced active buyer participation.
Conclusion
According to the analysis, the current status of DE stock reveals that it is trading below the 50-day Exponential Moving Average (EMA) level but remains above the 100-day EMA level. This particular arrangement signifies an uncertainty in the stock’s price. The RSI line also hovers near the neutral region. Presently, the stock’s price movement is confined within the boundaries of an ascending triangle pattern. If the price breached the support level, it could lead to a bearish trend. Conversely, if the price respects the support level, a trend reversal might be in the cards.
Technical Levels
Support Level: $347
Resistance Level: $444
Disclaimer
The views and opinions of the author or anyone in this article are for informational purposes only. They do not offer financial, investment, or other advice. Investing in or trading crypto assets involves the risk of financial loss.
