Deere Company had favorable earnings in May reporting quarterly earnings of about 3.5 % on
their share's market price. DE is a blue-chip industrial sector stock comparable to CAT. It not
a fast mover but very suitable for options trading or investment. On the 4H chart DE had been
trending down through earnings in a descending parallel channel and relying on a lower VWAP
for support. At the middle of this past week, DE made its reversal move into a trend up. This
was accompanied by a change in the volume to predominantly buying volumes relatively high
compared with the period before the earnings. This surge of volume of sorts is the fuel for
upward price action. The zero-lag MACD indicator shows moving average divergence Price is
breaking out of the channel moving towards the mean VWAP and POC line of the volume profile.
demonstrating bullish momentum. Accordingly, I see DE as well setup for a long trade.
( SL $345 pivot low TP1 $400 ( 1 std above mean VWAP ) TP2 $420 ( 2 std above mean VWAP)
their share's market price. DE is a blue-chip industrial sector stock comparable to CAT. It not
a fast mover but very suitable for options trading or investment. On the 4H chart DE had been
trending down through earnings in a descending parallel channel and relying on a lower VWAP
for support. At the middle of this past week, DE made its reversal move into a trend up. This
was accompanied by a change in the volume to predominantly buying volumes relatively high
compared with the period before the earnings. This surge of volume of sorts is the fuel for
upward price action. The zero-lag MACD indicator shows moving average divergence Price is
breaking out of the channel moving towards the mean VWAP and POC line of the volume profile.
demonstrating bullish momentum. Accordingly, I see DE as well setup for a long trade.
( SL $345 pivot low TP1 $400 ( 1 std above mean VWAP ) TP2 $420 ( 2 std above mean VWAP)