After a substantial run, Deere (DE) is just starting to fall apart at substantial resistance points going back 10 years. MFI has already turned south. And it’s only a matter of time before MACD and RSI turn lower, too.
Worse, after beating earnings by 35%, the company saw a 43% decline in net year over year. It also warned of a difficult 2015. Downside here has only just begun.
Sadly, many investors are about to lose big here after following Warren Buffett into the trade in recent days. Buffett now owns 5%, or 17.1 million.
I doubt he’s concerned about the latest chances for a big pullback, though.
He’s more interested in what the stock can do over the next 18 years, not the next 18 days.
DE 5-year Chart