1 Deere price increased by 7.70% over the past seven days. 2 Deere & Company (NYSE: DE) stock’s 52-week price range is $288 – $488. Deere & Company has seen a growth in its earnings and revenues that is faster than the industry. It has a high return on equity of 39.7% and high ne...
- 1 Deere price increased by 7.70% over the past seven days.
- 2 Deere & Company (NYSE: DE) stock’s 52-week price range is $288 – $488.
Deere & Company has seen a growth in its earnings and revenues that is faster than the industry. It has a high return on equity of 39.7% and high net margins of 15%. According to SimplyWall St., a financial website, Deere stock has more debt than equity, with a debt-to-equity ratio of 261.1%. Deere stock can pay its interest easily, with an interest coverage ratio of 74.4. DE stock has a cash balance of $3.9 Billion.
The market capitalization of DE stock is $128.89 Billion and the total revenue is $52.51 Billion. Moreover, the DE stock’s basic EPS is $29.95 and the price-to-earnings ratio is 14.64. Moreover, the average volume is 1.385 Million and the current volume is 1.285 Million, the current volume is below average volume in Deere & Company ( NYSE: DE) stock.
Technical Analysis of Deere Price in 1-D Time Frame
The price action shows that Deere & Company ( NYSE: DE) stock completed a bullish flag pattern earlier, which started in 2022 from a major demand zone around $340. DE price rose to a high of $447.37, where the stock faced resistance and fell back to the same demand zone by June 2023.
However, the Deere stock price reversed again from the $340 mark and resumed its uptrend, making higher highs and lows. Deere price is currently trading at $439.63, near the supply zone. The Deere stock price is also above all the major EMAs and the volume is increasing significantly, as seen on the volume graph.
Moreover, to continue its upward momentum, the Deere price needs to break the volume moving average by attracting more buyers and then we can expect more surge in the Deere stock price. If the DE share price holds this level, it could rise further and reach the first and second targets of $447.37 and $465.89 respectively. On the other hand, if the DE share price rejects this level and falls, it could reach the nearest support levels of $397.45 and $377.98.
At the time of publishing, Deere & Company. is trading above the 20, 50, 100, and 200-day EMAs (exponential moving average), which is supporting the Deere stock price trend. Hence, Deere price is expected to move upwards giving bullish signals over the daily time frame chart.
The current value of RSI is 74.72 points. The 14 SMA is above the median line at 62.76 points which indicates that the price is bullish as the RSI is in bullish territory.
The MACD line at 10.70 and signal line at 8.38 are above the zero line and a bullish crossover was observed in the MACD oscillator which signals more bullishness for the DE stock price.
Summary
Deere & Company. (NYSE: DE) shows that the investors and traders of the stock are bullish on the 1-D time frame. The price action shows a bullish outlook at the time of publishing. The technical parameters of the DE stock price also support the bullish trend. The major indicators MACD, RSI, and EMA are giving positive signals and imply that the uptrend may continue in DE stock price.
Technical Levels
- The nearest support levels: $397.45 and $377.98.
- The nearest resistance levels: $447.37 and $465.89.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.