DEERE & CO (NYSE:DE) – A Strong Technical Setup in a Market Leader

DEERE & CO (NYSE:DE) has been identified as a standout candidate in our technical breakout screen. The stock combines a high technical rating with a solid setup pattern, making it worth a closer look for traders focused on momentum and consolidation breakouts.

Technical Strength

• Perfect Technical Rating (10/10): DE scores the highest possible rating, reflecting strong momentum across multiple timeframes.
• Consistent Uptrend: The stock has outperformed 84% of the market over the past year, with gains of 41% in the last 12 months.
• Strong Relative Strength: DE is leading 70% of its peers in the Machinery industry, reinforcing its position as a sector standout.
• Support from Moving Averages: The stock is trading above key moving averages (20-day, 50-day, 100-day, and 200-day), all of which are trending upward.

Setup Quality

• High Setup Rating (7/10): Recent price action shows consolidation, suggesting a potential breakout opportunity.
• Clear Support Levels: Multiple support zones exist below the current price, with the nearest at $506.73, providing a logical stop-loss area.
• Pocket Pivot Signal: A recent accumulation pattern indicates institutional buying interest, adding confidence to the setup.
• Tight Trading Range: Prices have been stabilizing near recent highs, reducing volatility and improving the risk-reward profile.

For traders considering an entry, the technical report suggests a potential buy point above $514.32, with a stop-loss just below $497.93. This setup offers a controlled risk of about 3.2%.

More breakout opportunities can be found in our Technical Breakout Setups screener. For a deeper dive into DE’s technicals, review the full technical report.

Disclaimer

This is not investment advice. The analysis reflects observations at the time of writing, and market conditions can change rapidly. Always conduct your own research before making trading decisions.