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Shares of Deere Rise Above Previous 52-Week High

By David Diaz

Shares of Deere (NYSE:DE) traded today at $121.04, breaking its 52-week high. Approximately 4.2 million shares have changed hands today, as compared to an average 30-day volume of 3 million shares.

Deere (NYSE:DE) defies analysts with a current price ($121.01) 9.1% above its average consensus price target of $110.00. The stock should find initial support at its 50-day moving average (MA) of $80.91 and further support at its 200-day MA of $80.09.

Deere & Company manufactures and distributes a range of agricultural, construction and forestry, and commercial and consumer equipment. The Company supplies replacement parts for its own products and for those of other manufacturers. Deere also provides product and parts financing services.

Over the past year, Deere has traded in a range of $70.16 to $121.04 and is now at $121.01, 72% above that low. The 200-day and 50-day moving averages have moved 0.34% lower and 0.49% higher over the past week, respectively.

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 27.6%. We continue to monitor DE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Deere

Ticker(s): DE