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Bearish Moving Average Cross by Deere (DE)

By Nick Russo

Deere (NYSE:DE) shares have crossed bearishly below their 10-day moving average of $110.83 on a volume of 159K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Deere has traded in a range of $70.16 to $114.13 and is now at $110.28, 57% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.5%.

SmarTrend recommended that subscribers consider buying shares of Deere on October 10th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $88.32. Since that recommendation, shares of Deere have risen 25.6%. We continue to monitor DE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Deere

Ticker(s): DE