Deere & Company (NYSE: DE) Deere & Co. engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts. The company was founded by John Deere in 1837 and is headquartered in Moline, IL.
Will DE Stock Reach $500 by 2024?
DE stock has shown a falling wedge pattern and is close to the upper trendline of $390. Furthermore, the price action witnessed a rebound and is gaining momentum. DE stock retested the support zone of $345.00 and pulled back.
At press time, DE stock price was trading at $382.20 with an intraday gain of 2.31%, showing neutrality on the charts. Moreover, the trading volume increased by 0.45% to 1.89 Million while the market cap is $110.074 Billion. Furthermore, analysts have maintained a buy rating with a yearly target price of $442.70 suggesting a growth outlook for the upcoming sessions.
DE Stock Price Prediction 2023
On the daily charts, DE stock price is near the 50 day EMA and is heading to the round mark of $400. The RSI curve stayed in the overbought zone and showed a positive crossover indicating a bullish outlook.
The MACD indicator showed a bullish crossover suggesting that DE stock may reach the bluesky zone of $500 soon. Conversely, in case of a reversal, DE stock may retest the round mark of $380 in the coming sessions.
DE Stock Price Prediction 2024
On the monthly charts, DE stock showed a higher high formation and is waiting for a sharp move beyond the neckline of $420. Furthermore, the price action is suggesting that DE stock will sharply accelerate as soon as stock escapes the round mark of $400.
If the bulls continue to dominate, DE stock will reach the maximum of $ 460 by 2024. Conversely, if the stock falls below $350, DE stock is likely to slip to $300.
DE Stock Price Prediction 2025
On the 6 months chart, DE stock price has made an inverted hammer candlestick and paused near $400. However, the trend is bullish and stock will continue to rise toward $500. Furthermore, the stock is trading above the 20 day EMA.
If bulls sustain this momentum, DE stock has the potential to reach as high as $500 in the next few years. Conversely, the stock could drop as low as $350 followed by $320, in the same time period.
Summary
DE stock price is trading close to the round mark of $400 highlighting strong buyer interest. The indicators are also giving clear bullish signals across time frames.
Technical Levels
Support Levels: $375 and $350
Resistance Levels: $400 and $415
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/11/05/de-stock-price-prediction-2023-2024-2025-will-de-hit-400/