Industrials Key to U.S. Economic Growth in 2013

Deere & Co (DE) ($84.55 vs. $82.47 on Oct. 1): Has been upgraded to buy from hold since Oct. 1, is 7.1% undervalued with a favorable trailing 12 months P/E at 11.0. Deere has a negative daily chart profile falling below its 50-day SMA at $85.26 with the 200-day SMA at $80.20. The weekly chart ended last week with a downgrade to negative with the close below its five-week MMA at $84.77 with the 200-week SMA at $69.01.

Gardner Denver (GDI) ($68.03 vs. $60.41 on Oct. 1): Still has a hold rating, is 9.8% overvalued with a favorable P/E at 12.1. GDI is well below its Jan. 17 high at $84.46 with its June 4 low at $69.41. The daily chart is negative with the 50-day SMA at $68.15 and the 200-day SMA at $60.99. The weekly chart ended last week with a downgrade to negative with the close below its five-week MMA at $68.12 and with the 200-week SMA at $56.70.

H&E Equipment Services (HEES) ($14.82): Has a hold rating, is 10.6% overvalued with a favorable P/E at 14.9. The daily chart is negative with the 50-day and 200-day SMAs at $15.09 and $16.13. The weekly chart ended last week neutral with the five-week MMA at $15.05 and the 200-week SMA at $12.30.

Ingersoll-Rand (IR) ($46.88): Has a hold rating, is 14.5% overvalued with a favorable P/E at 14.4. The daily chart is negative with the 50-day SMA at $47.13 and the 200-day SMA at $43.70. The weekly chart is negative with the five-week MMA at $47.14 and the 200-week SMA at $36.98.

Joy Global (JOY) ($61.48): Has a buy rating, is 9.2% overvalued with a favorable P/E at 8.8. The daily chart is positive but overbought with the 50-day and 200-day SMAs at $59.56 and $60.36. The weekly chart is positive with the five-week MMA at $59.83 and the 200-week SMA at $64.37.

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