Deere & Company Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Deere & Company stock downgraded to Hold/Accumulate
(Updated on May 10, 2024)
The Deere & Company stock price fell by -0.271% on the last day (Friday, 10th May 2024) from $409.00 to $407.89. During the last trading day the stock fluctuated 1.48% from a day low at $405.67 to a day high of $411.69. The price has risen in 6 of the last 10 days and is up by 3.7% over the past 2 weeks. Volume has increased on the last day by 435 thousand 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, 1 million shares were bought and sold for approximately $581.83 million.
The stock lies in the middle of a strong 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 11.60% during the next 3 months and, with a 90% probability hold a price between $442.22 and $477.56 at the end of this 3-month period.
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DE Signals & Forecast
The Deere & Company stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $403.81 and $401.81. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -1.20%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
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 $6.02 between high and low, or 1.48%. For the last week the stock has had daily average volatility of 1.40%.
Our recommended stop-loss: $396.21 (-2.86%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 21 days ago.)
Trading Expectations (DE) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Deere & Company to open at $408.42, and during the day (based on 14 day Average True Range), to move between $400.58 and $415.20, which gives a possible trading interval of +/-$7.31 (+/-1.79%) up or down from last closing price. If Deere & Company takes out the full calculated possible swing range there will be an estimated 3.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $409.14 (0.31%) than the support at $365.05 (10.50%), 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.
Earnings coming up
Deere & Company will release earnings BMO on Thursday, May 16, 2024.The consensus among the analysts for the expected earnings (EPS) is $7.83. We will update the financials statements for Deere & Company, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.58% in the first trading day after earnings release.
Is Deere & Company stock A Buy?
Deere & Company holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.
Current score: -0.809 Hold/Accumulate Downgraded
Predicted Opening Price for Deere & Company of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $408.42 ( 0.129%) | $407.89 |
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 | 414.44 | 1.61 % | |
| R2 | 412.14 | 1.04 % | ||
| R1 | 410.72 | 0.693 % | ||
| Current price: | 407.89 | |||
| Support | S1 | 406.12 | -0.435 % | |
| S2 | 404.70 | -0.783 % | ||
| S3 | 402.40 | -1.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 412.84 | 1.21 % | |
| R2 | 410.74 | 0.699 % | ||
| R1 | 409.14 | 0.306 % | ||
| Current price | 407.89 | |||
| Support | S1 | 365.05 | -10.50% | |
| S2 | 364.66 | -10.60% | ||
| S3 | 360.68 | -11.57% |
DE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 28, 2024 | Mar 27, 2024 | May 08, 2024 | $1.47 | 0.363% |
| 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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