Deere Driving Toward a Breakout

Deere DE is approaching a breakout level today. The stock is up more than 1.7% on the day and is now testing its March highs. Earlier in the session, the stock moved past the April highs as a powerful three-week rebound continued. DE is hitting resistance near the March peak of $83.75 this morning and without a better showing by the bulls, this level may prove difficult to clear. However, once it does more past it, the stock will be well positioned for a return to the 2012 high just below $90.00.

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