Deere & Company Stock Forecast
Red day on Friday for Deere & Company
(Updated on Apr 26, 2024)
The Deere & Company stock price fell by -0.185% on the last day (Friday, 26th Apr 2024) from $394.06 to $393.33. It has now fallen 6 days in a row. During the last trading day the stock fluctuated 1.24% from a day low at $391.10 to a day high of $395.95. The price has fallen in 8 of the last 10 days and is down by -0.99% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -246 thousand shares and in total, 972 thousand shares were bought and sold for approximately $382.51 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 7.71% during the next 3 months and, with a 90% probability hold a price between $407.68 and $450.39 at the end of this 3-month period.
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DE Signals & Forecast
There are few to no technical positive signals at the moment. 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 $397.11 and $396.85. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -4.73%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Deere & Company stock
On the downside, the stock finds support just below today's level from accumulated volume at $365.05 and $364.66. 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 $365.05. If this is broken, then the next support from accumulated volume will be at $364.66 and $360.68.
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 $4.85 between high and low, or 1.24%. For the last week the stock has had daily average volatility of 2.08%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DE) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Deere & Company to open at $393.46, and during the day (based on 14 day Average True Range), to move between $385.96 and $400.70, which gives a possible trading interval of +/-$7.37 (+/-1.87%) up or down from last closing price. If Deere & Company takes out the full calculated possible swing range there will be an estimated 3.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $394.05 (0.18%) than the support at $365.05 (7.19%), 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.
Current score: -3.249 Sell Candidate Unchanged
Predicted Opening Price for Deere & Company of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $393.46 ( 0.0331%) | $393.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 398.31 | 1.27 % | |
| R2 | 396.46 | 0.795 % | ||
| R1 | 395.31 | 0.504 % | ||
| Current price: | 393.33 | |||
| Support | S1 | 391.61 | -0.438 % | |
| S2 | 390.46 | -0.729 % | ||
| S3 | 388.61 | -1.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 409.14 | 4.02 % | |
| R2 | 397.27 | 1.00 % | ||
| R1 | 394.05 | 0.183 % | ||
| Current price | 393.33 | |||
| Support | S1 | 365.05 | -7.19% | |
| S2 | 364.66 | -7.29% | ||
| S3 | 360.68 | -8.30% |
DE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 28, 2024 | Mar 27, 2024 | May 08, 2024 | $1.47 | 0.374% |
| 2 | Dec 06, 2023 | Dec 29, 2023 | Feb 08, 2024 | $1.47 | 0.381% |
| 3 | Dec 06, 2023 | Dec 28, 2023 | Feb 08, 2024 | $1.47 | 0.381% |
| 4 | Aug 30, 2023 | Sep 28, 2023 | Nov 08, 2023 | $1.35 | 0.365% |
| 5 | May 31, 2023 | Jun 29, 2023 | Aug 08, 2023 | $1.25 | 0.290% |
FAQ
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