DE: Impulsive Rally Favors Upside

Deere & Company (DE) manufactures & distributes various equipment worldwide. The company operates through four segments: Production & Precision Agriculture, small Agriculture & Turf, Construction & Forestry, & Financial services. The company is based in Illinois, US, comes under Industrials sector & trades as “DE” ticker at NYSE.

DE is showing higher high sequence as the part of Impulse wave. It placed IV at $283.81 low on 7/06/2022 & above there, it favors higher in wave V of (I). It favors upside to continue & should remain supported in 3, 7 or 11 swings.

DE – Elliott Wave Latest Monthly View: 

In monthly sequence, it placed I at $94.89 high & II at $24.51 low. Above there, it extended higher in wave III as third wave extension, which finished at $446.76 high. In wave III, it placed ((1)) at $181.99 high & ((2)) at $106.14 low. It favored ended ((3)) at $400.34 high as extended wave & ((4)) at $320.50 low as 0.236 Fibonacci retracement correction. Finally, it ended ((5)) at $446.76 high as wave III. Below there, it placed IV at $283.81 low in double correction at 0.382 Fibonacci retracement level against I.

DE – Elliott Wave Latest Daily View: 

Above wave IV low, it favors higher in wave V of (I). It placed ((1)) at $392.93 high & ((2)) at $328.62 low on 9/23/2022. It favors higher in ((3)) of V & should remain supported in 3, 7 or 11 swings pullback at extreme areas. It placed (1) of ((3)) at $448.40 high & favors pullback in C of (2) towards $409.32-$387.16 area, where it should find support & resumes higher. Alternatively, the current move can be pullback in (4) of ((1)) & later expect new high to be (5), which ends ((1)) sequence before a larger pullback in ((2)) correction against 7/06/2022 low. In either the case, it expects to continue higher, while dips remain above 7/06/2022 low of wave IV.

DE – Elliott Wave Monthly Alternate View: