DE Elliott Wave Analysis of Deere & Co. (DE) – Current Trends and Future Price Movements
This Elliott Wave analysis of Deere & Co. (DE) examines both the daily and 1-hour chart structures, providing insight into the current market trends and potential future price movements.
DE Elliott Wave Analysis – TradingLounge Daily Chart
Deere & Co. (DE) Daily Chart Analysis
DE Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave 1 of (1)
Direction: Bottom in Wave 2 of (1)
Details: A clear three-wave move within Wave 2 is expected as the long-lasting correction in Intermediate Wave (4) seems to have concluded.
DE Stock Technical Analysis – Daily Chart Overview
In the daily chart, Deere & Co. appears to have completed its extended corrective phase in Intermediate Wave (4). The market is now entering the early stages of Wave 1 of (1), and the potential bottom of Wave 2 seems to be in place. This suggests that the market is transitioning from correction to a new impulsive upward move. The three-wave structure within Wave 2 is a key indication that the next rally could begin soon.
TradingLounge Deere & Co. (DE) 1-Hour Chart Analysis
DE Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave {b} of 2
Direction: Downside in Wave {c}
Details: Expecting one more leg lower in Wave {c} to complete the overall correction in Wave 2.
DE Technical Analysis – 1-Hour Chart Overview
On the 1-hour chart, Deere & Co. is currently in Wave {b} of 2, with further downside expected in Wave {c}. This final leg lower is needed to complete the overall correction in Wave 2, which suggests that the bearish movement may persist briefly before a reversal. Once Wave 2 is complete, the market could shift to an upward trend.
Technical Analyst: Alessio Barretta
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