The daily stock chart of Deere & Company (NYSE:DE) is overbought. There is no disputing that. However, it is the monthly stock chart that really freaks pro traders out. With an inside bar pattern known as a bear flag, a major down move is on the horizon.
Monthly patterns are much more scary than the same pattern on the daily stock chart because they are more powerful and carry more weight. In this case, Deere & Company is slated to drop to a target of $64.00. That is a decline of 30%. The drop should begin within a week or two. I am an interested July 2017 put buyer, strike $90. Get ready to be paid!
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