The Moline, IL-based company manufactures agricultural, construction and forestry machinery, diesel engines, drivetrains used in heavy equipment and lawn care equipment.
Deere is scheduled to report its 2016 fiscal fourth quarter results on November 23.
After that monstrous move in August, Deere had to settle down a bit and get some run back, and after a steep dive a month later we are back to the scene of the big rise.
The stock looks poised for a move higher after a brief consolidation at highs in the mid $80s. The momentum is back in this name for sure, the relative strength truly impressive since August.
The moving average convergence divergence (MACD) has corrected some here, but we see the support at the 20-day moving average (dotted line), a clue where this stock could make a move.
Volume levels are swelling of late; this looks like a breakout is imminent past $88.
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Separately, TheStreet Ratings Team has a "Hold" rating with a score of C+ on the stock.
The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its solid stock price performance, reasonable valuation levels and good cash flow from operations.
But the team also finds weaknesses including deteriorating net income, generally higher debt management risk and feeble growth in the company's earnings per share.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: DE