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Todays Big Stock Wealthpop News

What Is The Level To Watch For Deere?


The market stalling out a bit last week has led many to question whether the bull rally will continue or not. However, until then, there are still some stock that have quality set ups that we can use to make a great trade.

One trade idea that comes to mind is brought to us by Deere (DE). The stock has formed a trend channel with the channel support being tested last week, as you can see in the video. A break below that line, and 400, likely means lower prices for the stock.

Unless the market decides to make another run higher, this 400 level is the level to be watching for a possible short play. If you think this is part of a pullback in the context of a market that wants to go higher, then 400 may act as support again with the stock pulling back to it, only to continue to move higher.

Learn tons more about our favorite stocks and setups when you join The Profit Machine. Every week, you will get exclusive access to all things option trading, from the stocks I trade the most to the setups I look for when trading them. The best part, we are putting on trades every step of the learning process, so not only will you get a world-class education, but you’ll also earn while you learn.

Get a jump start on your options education and put yourself in position to win in 2023. Sign up today! Until then…

Good Luck!

Christian Tharp, CMT

Christian Tharp

I am an expert stock market coach having helped over 4000 beginner and advanced traders & investors from around the world take control of their financial futures. I also write stock market related articles for the Adam Mesh Trading Group. My Chartered Market Technician (CMT) designation substantiates me as an expert in areas such as the technical analysis of stock trends, market indicators, cycles, price patterns, Elliot Wave principles, Candlestick charting, analyzing financial trends and behaviors, portfolio strategies, and forecasting future price movements. With my straightforward approach to simple, systematic trading, students learn how to strategically assess buy signals and market entry timing, establishment and management of stop losses, and how to employ a simple and disciplined trading approach that creates profits.

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