Deere Stock Rating jumps; Can he run higher?

Deere & Co. (DE) has been using the advertising slogan “Nothing works like a Deere” for more than 40 years. It’s unclear if Deere’s stock is running right now or just moving forward. The iconic farm equipment manufacturer’s stock formed mug base with handle, one of the best designs for breakout success. And on Thursday, Deere stock’s Relative Strength (RS) rating climbed into a new percentile, rising to 83 from 75 the previous day.

Deere Stock runs faster; Quite fast?

On the one hand, it’s really positive that the RS rating for Deere stock has risen to 83. Market research shows that the best performing stocks typically have an RS rating of 80 or higher when they start their highs. price movements. And it is the highest rated company in its industry group. On the other hand, the Moline, Illinois-based company has seen uneven growth in profits and sales over the past year.

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Earnings rose 16% in the latest report to $6.16 per share. That came on revenue up 22% to $14.1 billion. The previous three stanzas Deere reported EPS up 72%, down 25% year-over-year, then up 20%. Sales growth was a little more consistent, hitting 16%, 5% and then 11% before last quarter’s 22% jump.

Deere stock is trying to complete a cup with handle with a buy point of 393.03. See if he can clear the breakout price in volume at least 40% above the average. On Thursday, Deere rose 0.7% to around 368.45.

Highest ranked in his group

Deere stock ranks first among its peers in the Machinery-Farm industry group. Lindsay Corp. (LNN) and AGCO (AGCO) are also among the highest rated companies in the group.

When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.

This proprietary Relative Strength Rating identifies market leadership using a score from 1 (worst) to 99 (best) that identifies how a stock’s price performance over the past 52 weeks compares to that of others listed companies.

Please follow James DeTar on Twitter @JimDeTar


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