Jun. 1 at 11:34 PM
$DE trading around
$542.33, compressing tightly inside a descending wedge while holding a critical macro ascending support line.
🚀 Catalyst: Deere recently crushed Q2 earnings with a big EPS beat (
$6.55 vs
$5.76) and revenue of
$13.37B beating the
$11.48B forecast. Dividend declared, signaling rock-solid cash flow.
📈 Setup: Price is wedged tight. Buyers are defending the rising trendline, but the stock remains temporarily boxed in by a heavy overhead volume shelf.
🐂 Bull Trigger: A clean daily close above
$560.30 triggers the breakout, clearing overhead supply for a fast push toward
$573.41 and a test of
$600.00.
🐻 Bear Level: A breakdown below
$520.71 shifts control to the bears for a quick flush to the
$505.53 pivot, opening the door to the base at
$455.53.
📊 Trend: NEUTRAL / BULLISH WATCH — Earnings blowout provides massive backing, but technicals must clear resistance to unlock the next leg.
#de #deere #agriculture #hovdid
