Chart of the Day - Thursday, March 17th, 2022
March 17, 2022
Today’s Chart of the Day was shared by Doug Busch (@chartsmarter ). It’s a weekly candlestick chart of Deere & Co. ($DE) over the past two years. Agriculture stocks continue to show strength. Doug points out that one of the largest of the bunch, $DE, looks poised for its next leg higher. The stock surged more than 250% off the Covid lows but has spent the past year digesting those gains. It closed above that nice round $400 number today for the first time ever, after several failed attempts in the past year. Doug also points out that $DE continues to outperform its largest competitor, $CAT. After an 11-month pause, is $DE ready to resume its long-term uptrend?