Swing Trade Idea (DE) – October 29, 2021
Our bullish trade for Friday, October 29th is Deere & Co (DE). DE is part of the Industrial Sector (XLI). XLI has experienced a 4.5% gain in the last month.
DE has been rangebound for a number of weeks and has bounced higher after testing the lower bound of the range. With a technical score of 4 (out of 10), DE is a weak stock that will likely move lower. Its 1M trend turned bullish yesterday.
As a close, if DE were to trade below $338 for multiple days, this would invalidate our analysis and we would focus cutting losses on the trade. We also would consider cutting losses on this options trade if the value of the vertical spread moves above $14.90.
