Deere & Company (DE) released its fiscal fourth-quarter results Wednesday morning, reporting in-line EPS numbers and beating revenue expectations. The company's 2020 guidance, however, was lowered and the stock is down in early trading Wednesday. Management is now forecasting net income for fiscal year 2020 (October) to be in a range of $2.7 billion-$3.1 billion (from a previous $3.2 billion).
Let's check out the charts of DE to see about support levels for this Real Money Stock of the Day.
In the daily bar chart of DE, below, we can see that prices broke out to new highs in October and made a successful retest of the breakout level (around $170) earlier this month. Prices could well test or perhaps break the $170 area Wednesday.