From Dragonfly Capital:
Many eyes are focusing on the price action in Deere, $DE. After it broke above 83.75, resistance since February, the stock looks ready to keep traveling higher. Currently attempting to move higher out of a bull flag it has resistance at 87 and 88 before free air to move higher and the Measured Move would take it to 90. With support from a bullish and rising Relative Strength Index (RSI) and a
Deere, $DE
Moving Average Convergence Divergence indicator (MACD) that is crossing to positive it is truly a great trade set up. But if you move a little earth, digging below the surface, there might be a better play in beaten up Caterpillar, $CAT. The ratio chart below of Caterpillar to Deere carries a lot of information. There are two trendlines that help define the bullish and bearish picture over the last 3 years...MORE
