Resistance

Parallel

Daily

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>DE stock price was up 0.12% in the last trading session and is currently trading at $435.07.</a> </li> 
 <li> <span>2</span> <a>Deere and Company Ltd.’s share price (NYSE: DE) slid down to the nearest support level after a divergence which ended up being a higher low.</a> </li> 
</ul> 
<p>DE stock price has been in an inclining trend after the breakout of an upper trendline resistance in June 2023. Since then, the stock has gained nearly 15% and surged to reach an all-time high of $450.<br><br>The DE stock price is observed to be forming a parallel channel pattern and currently taking support from the lower trendline of the channel. The quarterly results are yet to come which is slowing the price momentum at the current time. The analysts are optimistic about the results and expect an estimated revenue of $14.12 Billion.&nbsp;</p> 
<p>Deere and Company Ltd. (NYSE: DE) is the world’s largest producer of agricultural equipment manufacturing agricultural machinery. Deere is focused on revolutionizing agriculture with technology, in an effort to make farming automated, easier, and more precise across the production process.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/fLCgJ0WnJ1ASmnvTbiFsyaAhUzGIY5hXM5ghTbNsT6Hdx9smkTaFddDgeJZIXgp9YuZUYgyye1elEfFmB4GPpNIG4S5XRG4KJHgLlBMW1-mg9ftq0mHhC4IjB4UbFmQvwX25vgbxiaUnG6gRm6IlzQ" alt="DE&nbsp; Stock Q2 Earnings Ahead, Stock Soaring Near All-Time High"> 
  <figcaption class="wp-element-caption">
    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Source: barchart.com 
  </figcaption> 
 </figure> 
</div> 
<p>DE&nbsp; stock option-chain analysis states that the current implied volatility in the market is 28.78% with a decrement of 0.6% in the last trading session. The at-the-money strike price has 128 open contracts on the put side and 242 open contracts on the call side indicating the presence of sellers at the current level. The PUT/CALL ratio is 1.31 indicating bullish sentiments in the market.</p> 
<h2 class="wp-block-heading" id="strong-de-stock-price-forming-a-parallel-channel-pattern-in-daily-timeframe-strong"><strong>DE Stock Price Forming A Parallel Channel Pattern In Daily Timeframe</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/pzzRL-2_7kvL2rLs_F6k78-pAHzhVUQbkTaYSgi9VCbEGhsruqMeIOaARz58JfQy3Dix9bKtazjr89u2zv3Xwc2Md8tEMuRhcLUrhDjPQJR_PWKt9dNV3ANSIYxI_FvqnuqG7VqU9-lgOFRoHsvxLg" alt="DE&nbsp; Stock Q2 Earnings Ahead, Stock Soaring Near All-Time High"> 
  <figcaption class="wp-element-caption">
    Source: Deere and Company 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>Currently, <a href="https://www.thecoinrepublic.com/2023/07/25/will-deere-stock-nyse-de-attain-52-week-high-of-450/" target="_blank" rel="noopener noreferrer nofollow">DE stock price </a>is trading at $435.07 and taking a rebound from the lower trendline of the parallel channel formed.</p> 
<p>The short-term outlook of the stock stays on the bullish side and the price may resume its short-term uptrend until it maintains itself in the channel. Analysts’ opinion about the stock is to be cautious as the stock is trading near an all-time high and the Q2 result days are nearing which may cause volatility and the price may head towards a profit booking.</p> 
<p>The long-term outlook of the price trend is optimistic as the price is trading above the 200 EMA. The price may decline in the short term which may result in the formation of a higher low and the price may resume its trend again.</p> 
<h3 class="wp-block-heading" id="strong-technical-indicators-are-bullish-in-the-long-term-strong"><strong>Technical Indicators are Bullish in the Long Term</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/oCAL-JsuqHhC_7PdQMrc9738tp1AZzn7wyluaUdAhuVHoi-fSO5FMv4w80XBzhkXip5BF0DxVjV6Y6USVEML_6BbfUYmeRo2ejaNRpvrChWwaV9etfR4cDCCGXABUz-Qubt7jltvPJpTRAZAl48auQ" alt="DE&nbsp; Stock Q2 Earnings Ahead, Stock Soaring Near All-Time High"> 
  <figcaption class="wp-element-caption">
    Source: Deere and Company 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>The short-term technical indicators point towards a weakness in the short term. However, the long-term indicators are bullish over the current trend. The overall technical opinion rating is 88% buy with a strong uptrend in the long term.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>DE stock price prediction concludes that the stock has been in a bullish trend, forming a parallel channel pattern. The stock is soaring near an all-time high of $450 and may face volatility due to the upcoming Q2 results. Analysts advise caution and expect revenue of $14.12 Billion. The long-term outlook is positive as the price is above the 200 EMA. The price may dip in the short term and then resume its uptrend.</p> 
<h5 class="wp-block-heading"><strong>Technical Levels</strong></h5> 
<ul> 
 <li>Support levels: $424.06 and $414.3.</li> 
 <li>Resistance levels: $447.4 and $458.59.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

DE Stock Q2 Earnings Ahead, Stock Soaring Near All-Time High

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Thecoinrepublic.com

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