Deere In the Headlights:

The phrase from the above headline is often one that refers to one “freezing” in a heavy sense of fear or confusion. This could be the mood of DE shareholders which may be confounded by the PRICE action but technicians consider that omnipotent. For a stock to be not participating in the historic November is one thing, but for it to be lower to the tune of 5% over the last one-month period is telling. Since a triple top on the WEEKLY chart at the 440 level after the bearish shooting star candle the week ending 7/28 it has gained ground in back-to-back weeks just once. It has now broken BELOW a bullish WEEKLY descending triangle and we know from FALSE moves often come fast ones in the opposite direction. Last week recorded a WEEKLY doji candle which often signals a change in the prevailing direction but this has not been the case thus far. Compare it to major rival CAT which has advanced 6% over the last month. I am not advocating for a buy of CAT, more so a short of DE if it breaks below 358.

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