Welcome to our latest Elliott Wave analysis for Deere & Co. (DE) as of July 11, 2024. This analysis provides an in-depth look at DE's price movements using the Elliott Wave Theory, helping traders identify potential opportunities based on current trends and market structure. We will cover insights from both the daily and 4-hour charts to offer a comprehensive perspective on DE's market behavior.
DE Elliott Wave Analysis Trading Lounge Daily Chart
Deere & Co. (DE) Daily Chart Analysis
DE Elliott Wave Technical Analysis
FUNCTION: Trend
MODE: Impulsive
STRUCTURE: Motive
POSITION: Minute wave {iii}
DIRECTION: Downside in wave {iii}
DETAILS: Looking for further downside into minute wave {iii} of C. There is a possibility we are in some sort of complex correction in a higher degree wave (4), still looking for downside completion.
DE Elliott Wave Technical Analysis – Daily Chart
The daily chart indicates that DE is expected to continue its downward movement into Minute wave {iii} of C. There is a possibility that DE is experiencing a complex correction in a higher-degree wave (4). Nonetheless, the primary expectation remains further downside until the completion of wave {iii}.
DE Elliott Wave Analysis Trading Lounge 4Hr Chart
Deere & Co. (DE) 4Hr Chart
DE Elliott Wave Technical Analysis
FUNCTION: Trend
MODE: Impulsive
STRUCTURE: Motive
POSITION: Wave (iii) of {iii}
DIRECTION: Downside in wave (iii)
DETAILS: Looking for at least equality of (iii) vs. (i) to be reached at $334, and 1.618 (iii) vs. (i) stands at $300.
DE Elliott Wave Technical Analysis – 4Hr Chart
The 4-hour chart shows that DE is targeting at least the equality of wave (iii) vs. wave (i) at $334. Furthermore, the 1.618 extension of wave (iii) vs. wave (i) stands at $300. These levels provide important targets for the current wave structure, indicating potential areas of support where traders should watch for reactions.
Technical Analyst: Alessio Barretta
Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here
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