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Swing Trade Idea – March 08, 2022

Our bearish trade for Tuesday, March 8th is Deere & Company (DE). DE is part of the Industrial sector that has performed at -3.46% for the last month.

DE recently broke below the $386 support turned resistance level, as it retraced sharply from an all-time high in price. The 1M trend is bearish and the 6M trend is Neutral.

As a close, if DE were to trade above $390 for multiple days, this would invalidate our analysis and we will focus on cutting losses on the trade. We also will consider cutting losses on this options trade if the value of the vertical spread moves above $7.60.