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Watch for Shares of Deere (DE) to Approach Support at $112.17

By Nick Russo

Shares of Deere (NYSE:DE) opened today below their pivot of $113.58 and have already reached the first level of support at $112.70. Investors may be interested in a cross of the next downside pivot targets of $112.17 and $110.76.

Over the past year, Deerehas traded in a range of $0.00 to $114.96 and are now at $0.00. The 200-day and 50-day moving averages have moved 0.34% lower and 0.49% higher over the past week, respectively.

Deere has overhead space with shares priced $0.00, or 100.0% below the average consensus analyst price target of $110.00. The stock should run into initial resistance at its 200-day moving average (MA) of $80.09 and subsequent resistance at its 50-day MA of $80.91.

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 28.2%. We continue to monitor DE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts Deere

Ticker(s): DE