BullsEyeView

DE Bull Flag Breakout

Long
NYSE:DE   DEERE & CO
NYSE:DE is a ticker I have kept my eye on for a little now. It fell into sideways movement after maintaining a strong bullish trend . It formed a bull flag and broke out of the upper bound at the close of the 6.25 session. This is a strong breakout signal supported by a MACD crossover underneath the zero line. This, along with analyst price target upgrade to 165, involvement in agriculture sector that reaps benefit from the recent China Phase 2 deal, and potential 2 trillion dollar infrastructure aid, makes me believe that we may enter a strong bullish trend from this breakout. Keep your eyes peeled

Comments

UPDATE: DID NOT HOLD. Very hard to make bullish cases in this market. We will see how it holds our our bottom price level
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masonbahl24 BullsEyeView
@BullsEyeView, good call. but I feel this winter they will drop as they have previously.
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