Deere & CompanyPanjang
Deere Trying to Break Loose Before China Deal
Tractor maker Deere might be setting up for a breakout as the U.S. and China move toward a trade deal.
DE has been consolidating in an extremely tight range for the last four weeks. It's pressed against near-term resistance around $177. Meanwhile the 50-day simple moving average (SMA) has squeezed up from below as support.
The company's backward-looking results haven't been terrific. Management guided lower on November 27, citing the trade war. But now the market is looking past that with Vice Premier Liu He scheduled to sign "phase one" at the White House on January 15.
Agricultural exports to the Asian country are a big part of that deal. DE is perhaps the most straightforward name for large institutional investors in the U.S. to position for the news.
Buyers may get more active if DE breaks the weekly high near $177. The 50-day SMA can be used for risk management if it goes the other way.
Deere might be setting up for a breakout as the U.S. and China move toward a trade deal.DE has been consolidating in an extremely tight range for the last four weeks. It's pressed against near-term resistance around $177. Meanwhile the 50-day simple moving average (SMA) has squeezed up from below as support.
The company's backward-looking results haven't been terrific. Management guided lower on November 27, citing the trade war. But now the market is looking past that with Vice Premier Liu He scheduled to sign "phase one" at the White House on January 15.
Agricultural exports to the Asian country are a big part of that deal. DE is perhaps the most straightforward name for large institutional investors in the U.S. to position for the news.
Buyers may get more active if DE breaks the weekly high near $177. The 50-day SMA can be used for risk management if it goes the other way.
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.