DE Elliott Wave Analysis Trading Lounge Daily Chart,

Deere & Co., (DE) Daily Chart

DE Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Wave 1 of (1).

DIRECTION: Bottom in wave 2 of (1).

DETAILS: Looking for a clear three wave move within wave 2 as we seem to have potentially completed the long lasting correction in Intermediate (4).

(Click on image to enlarge)

Deere & Co., (DE) 1H Chart

DE Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Wave {b} of 2.

DIRECTION: Downside in wave {c}.

DETAILS: Looking for one more leg lower in wave {c} as we seem to be missing one leg in the overall correction in wave 2.

(Click on image to enlarge)

This Elliott Wave analysis of Deere&Co., (DE) outlines both the daily and 1-hour chart structures, highlighting the current trends and possible future price movements.

* DE Elliott Wave Technical Analysis – Daily Chart*

On the daily chart, Deere & Co. appears to have completed a long correction in Intermediate wave (4). The market is now in the early stages of Wave 1 of (1), with a potential bottom in place for Wave 2, marking the end of the corrective phase. A three-wave move within Wave 2 seems evident, signaling that the next impulsive move higher might begin soon.

* DE Elliott Wave Technical Analysis – 1H Chart*

On the 1-hour chart, DE is currently in Wave {b} of 2, and it appears that one more leg lower in Wave {c} is necessary to complete the overall correction in Wave 2. This indicates that the downside movement may continue briefly before the market reverses and resumes an upward trajectory once Wave 2 completes.

More By This Author:

Unlocking ASX Trading Success: Fisher & Paykel Healthcare Corporation Limited
Elliott Wave Technical Analysis: Euro/British Pound - Thursday, Oct. 17
Elliott Wave Technical Analysis: Bitcoin Crypto Price News For Thursday, Oct 17