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Deere & Co Set to Possibly Rebound After Yesterday's Selloff of 1.41%

By Shiri Gupta

Deere & Co (NYSE:DE) traded in a range yesterday that spanned from a low of $150.52 to a high of $153.90. Yesterday, the shares fell 1.4%, which took the trading range below the 3-day low of $152.93 on volume of 1.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Deere & Co have traded between a low of $112.87 and a high of $175.26 and are now at $151.49, which is 34% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Deere & Co on May 9th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $143.81. Since that recommendation, shares of Deere & Co have risen 6.6%. We continue to monitor DE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders deere & co

Ticker(s): DE