Parallel Channels help to, among other things:
- Define trends
- Identify key inflection points
- Identify potential buying and selling levels
Deere & Co (DE, $396.82) has been trading at the same level it did in March 2021 and in the short to medium term, has been in a downward trending channel since July 2023.
In recent sessions, the share has broken out of this channel, reflecting buying interest as well as the with the potential to continue it's bullish reversal.
While ultra short term pullbacks as possible, the potential upside target is previous highs near $435 to 447 while a stop-loss of $360 can be considered.
- Define trends
- Identify key inflection points
- Identify potential buying and selling levels
Deere & Co (DE, $396.82) has been trading at the same level it did in March 2021 and in the short to medium term, has been in a downward trending channel since July 2023.
In recent sessions, the share has broken out of this channel, reflecting buying interest as well as the with the potential to continue it's bullish reversal.
While ultra short term pullbacks as possible, the potential upside target is previous highs near $435 to 447 while a stop-loss of $360 can be considered.