.

Swing Trade Idea (DE) – August 29, 2023

Our bullish trade for Tuesday, August 29th is Deere & Company (DE). DE is part of the Industrial Sector, which has performed at 1.25% over the last week, with DE performing at 1% over the same period.

DE found support at a key support level of $380, from where it is bouncing higher as the strength is increasing. As this is a counter-trend trade, we believe that DE will continue higher over the duration of this trade. Tihs trade offers a Premium/Width of over 39% which is an excellent risk/reward ratio.

As a close, if DE were to trade below $385 for multiple days, this would invalidate our analysis and we will consider cutting losses on the trade. We will also consider cutting losses on this options trade if the value of the vertical spread moves above $15.40.