Company (NYSE:DE) has had an impressive move since it put in a bottom in early 2016. In January 2016 it was trading at $70 and now finds itself near $108. This is a whopping move of 54% in a year. A move of this magnitude alone does not dictate a short swing trade. However, when you see the stock hitting a trend line
connecting the former all-time highs it sure does! Simply connect the highs from 2007, 2008 and 2011. Note how that trend line
stretches all the way to current levels, exactly where Deere &
Company is trading. This is a huge sell signal on the stock. If you want to take it a step further, look at the current valuation with Deere &
Company trading at at 22.5 P/E ratio
. Historically, this is extremely high. The coming drop should take the stock back to $80 in late 2017. Enjoy the ride and profit alongside me.