Deere & Company's stock tumbled in the last session even after reporting strong profits and sales in the second quarter, amounting to a profit of $6.81 per share, up from $5.68 per share, while analysts expected $6.69.

Total earnings reached $13.37 billion, up from $12.1 billion in the same quarter of last week, with net sales amounting to $12.03 billion, beating estimates of $13.16 billion.

The company upgraded forecasts for the 2022 financial year net income from $6.7 billion to $7.4 billion.

Technically, the stock is exposed to negative pressure after piercing the main upward trend line in the medium term, amid negative pressure from the 50-day SMA, piercing the pivotal support of 321.90, and sustaining a loss of 14.07% in the last session, or 51.31 points, and settling at 313.31, with trading volumes surpassing 8.8 million shares, above 10-day averages of 2.3 million shares.

Therefore we expect more losses for the stock, targeting the first support at 278.95, provided the pivotal support of 321.90 was breached.

Expected trend for today: Bearish