• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • TheStreet Smarts
  1. Home
  2. / Investing

The Uptrend in John Deere Is Not Over

There's a tactical move to be made.
By BRUCE KAMICH
Nov 23, 2022 | 08:15 AM EST
Stocks quotes in this article: DE

Shareholders of ag equipment maker John Deere ( DE) got a nice surprise Wednesday morning as the company blew away their quarterly numbers. We have not reviewed the charts of DE since February 8 so a new one is in order.  
 
In this daily bar chart of DE, below, we can see that prices made a low in July and climbed strongly. Prices were in an uptrend above the rising 50-day moving average line and above the rising 200-day moving average line ahead of today's earnings beat. The trading volume increased from the middle of October probably in anticipation of earnings.
 
The daily On-Balance-Volume (OBV) line has been strong and made a new high for the year ahead of prices making a new high. The OBV line can at times be a leading indicator.
 
The trend-following Moving Average Convergence Divergence (MACD) oscillator is above the zero line and should turn higher to a fresh outright buy signal. 
 
 
In this weekly Japanese candlestick chart of DE, below, we can see a bullish picture. Prices are poised to test/best the highs of early 2022. DE is trading above the rising 40-week moving average line.
 
The weekly OBV line is rising and very close to making a new high telling us that buyers of DE have been more aggressive. The MACD oscillator is bullish. 
 
 
 
In this daily Point and Figure chart of DE, below, we can see the price action through Tuesday's close. The chart shows a price target in the $466 area. 
 
 
 
In this weekly Point and Figure chart of DE, below, we can see a potential longer-term price target in the $559 area. 
 
 
Bottom line strategy: Traders who are long DE could consider booking partial profits on the approach towards the daily Point and Figure price target of $466. This is a tactical move and does not mean that the uptrend in DE is over. Raise your sell stops on the balance of your position.
 

(John Deere is a holding in the Action Alerts PLUS member club. Want to be alerted before AAP buys or sells DE? Learn more now.)

Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Employees of TheStreet are prohibited from trading individual securities.

TAGS: Earnings | Investing | Stocks | Technical Analysis | Trading | Agriculture | Industrials

More from Investing

First Citizens BancShares Helped, but Can't Save This Market

James "Rev Shark" DePorre
Mar 27, 2023 4:27 PM EDT

We're still in a trading-range market with many risks ahead.

Jumping Juniper Networks? How to Play the Stock That Looks Ready to Rally

Bruce Kamich
Mar 27, 2023 3:24 PM EDT

Let's check out the charts and indicators.

3 Unduly Punished High-Yield Bank Stocks to Buy

Bob Ciura
Mar 27, 2023 2:42 PM EDT

These names offer investors sustainable dividend yields of 5%+ alongside attractive share price upside potential.

Could Pioneer Natural Resources Rally Soon?

Bruce Kamich
Mar 27, 2023 1:58 PM EDT

Here's what aggressive traders could do.

Take a Fresh Look at Where You Put Your Cash

Peter Tchir
Mar 27, 2023 12:40 PM EDT

Let's get back to the basics of cash reallocation and see why I'm not freaking out, but I'm also not in a mood for risk.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 04:00 PM EDT CHRIS VERSACE

    AAP Podcast: This Solar Company Is a Head-Turner

    Listen to my interview with Brian Roth, CEO of sol...
  • 01:56 PM EDT PETER TCHIR

    Very Cautious

    I am very cautious here. I don't like how the c...
  • 08:58 AM EDT JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    How to Adjust Your Trading Style as Market Conditi...
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2023 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login