Deere Drifting Lower

Deere (DE) appears headed for a retest of its June lows. After closing back above its 200-day moving average last Friday, the stock has been fading this week. After reaching a bottom in mid-June, Deere began a recovery rally and showed impressive positive volume at the end of the month, but it was not able to extend the move past the 200-day.

With this key level now fading in the rearview mirror, the stock is becoming more vulnerable. I believe a trip back down to this year's lows, set back on June 20 near $78, is likely in the near term....269 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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