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Watch for Deere & Co to Potentially Pullback After Gaining 4.85% Yesterday

By David Diaz

Deere & Co (NYSE:DE) traded in a range yesterday that spanned from a low of $127.14 to a high of $135.19. Yesterday, the shares gained 4.8%, which took the trading range above the 3-day high of $120.61 on volume of 1.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Deere & Co share prices have moved between a 52-week high of $181.99 and a 52-week low of $106.14 and are now trading 27% above that low price at $135.32 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.1% while the 200-day MA has slid 0.3%.

SmarTrend is monitoring the recent change of momentum in Deere & Co. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Deere & Co in search of a potential trend change.

Keywords: rebounders deere & co

Ticker(s): DE