Deere & Company Stock Forecast
Evaluation of Deere & Company stock downgraded after the last trading session.
(Updated on May 16, 2024)
The Deere & Company stock price fell by -3.44% on the last day (Thursday, 16th May 2024) from 382.35€ to 369.20€. During the last trading day the stock fluctuated 7.21% from a day low at 355.20€ to a day high of 380.80€. The price has risen in 6 of the last 10 days and is up by 0.3% over the past 2 weeks. Volume has increased on the last day by 435 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 737 shares were bought and sold for approximately 272.10€ thousand.
Given the current short-term trend, the stock is expected to rise 15.21% during the next 3 months and, with a 90% probability hold a price between 425.35€ and 448.88€ at the end of this 3-month period.
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DCO.DE Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Deere & Company stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at 379.10€ and 375.04€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -3.78%. Further fall is indicated until a new bottom pivot has been found. Deere & Company gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Deere & Company stock
On the downside, the stock finds support just below today's level from accumulated volume at 335.00€ and 331.00€. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Deere & Company finds support just below today's level at 335.00€. If this is broken, then the next support from accumulated volume will be at 331.00€ and 329.40€.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved 25.60€ between high and low, or 7.21%. For the last week the stock has had daily average volatility of 2.56%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DCO.DE) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Deere & Company to open at 368.40€, and during the day (based on 14 day Average True Range), to move between 362.08€ and 376.32€, which gives a possible trading interval of +/-7.12€ (+/-1.93%) up or down from last closing price. If Deere & Company takes out the full calculated possible swing range there will be an estimated 3.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 369.55€ (0.09%) than the support at 335.00€ (9.26%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Deere & Company stock A Buy?
The Deere & Company stock holds several negative signals and despite the positive trend, we believe Deere & Company will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -4.588 Sell Candidate Downgraded
Predicted Opening Price for Deere & Company of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| 368.40€ ( 0.217%) | 369.20€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DCO.DE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 394.00 | 6.72 % | |
| R2 | 384.22 | 4.07 % | ||
| R1 | 378.18 | 2.43 % | ||
| Current price: | 369.20 | |||
| Support | S1 | 358.62 | -2.87 % | |
| S2 | 352.58 | -4.50 % | ||
| S3 | 342.80 | -7.15 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 376.00 | 1.84 % | |
| R2 | 374.85 | 1.53 % | ||
| R1 | 369.55 | 0.0948 % | ||
| Current price | 369.20 | |||
| Support | S1 | 335.00 | -9.26% | |
| S2 | 331.00 | -10.35% | ||
| S3 | 329.40 | -10.78% |
DCO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2024 | Mar 27, 2024 | May 08, 2024 | 1.36€ | 0.359% |
| 2 | Dec 28, 2023 | Dec 28, 2023 | Dec 28, 2023 | 0€ | 0% |
| 3 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | 1.25€ | 0.339% |
| 4 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | 1.25€ | 0.337% |
| 5 | Dec 07, 2022 | Dec 29, 2022 | Feb 08, 2023 | 1.20€ | 0.315% |
FAQ
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