Deere attacks pivotal resistance - Analysis - 25-11-2022

Deere & Company's stock surged in the intraday levels, hitting seven-month highs after the agricugural and construction equipment company reported forecast-beating fourth-quarter sales, with the stock rallying 5.03% in the last session, or 20.96 points, and settling at 437.52, with trading volumes surpassing 5 million shares, above 10-day averages of 2 million shares. 

Technically, the upward trend dominates in the short term, with positive support from the 50-day SMA, with positive signals from the RSI, tackling the pivotal resistance of 438.00.

Therefore we expect more gains for the stock, targeting the resistance of 490.00, provided the initial resistance of 438.00 was pierced. 

Expected trend for today: Bullish