Deere stock breakout attempt at $666.28 resistance: Breakout levels to watch

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Deere jumps 3% today to $639

Highlights

Deere reported fiscal third-quarter 2026 net income of $1.379 billion and revenue of $12.61 billion, both surpassing Wall Street expectations.
Raised full-year guidance and strong growth in construction and forestry operating profit offset weak agricultural equipment demand and broadened the company's profit sources.
Shares of Deere closed at $639.59 after a 3% gain, exhibiting a strong bullish trend with short-term overbought readings and an expected range of $612.9 to $666.28 in the next few days.

Earnings and cash flow guidance boost sentiment amid sector divergence

Deere’s fiscal third-quarter 2026 results delivered a substantial positive surprise, as net income reached $1.379 billion and revenue climbed to $12.61 billion, both figures significantly outpacing Wall Street expectations according to Seekingalpha. The company’s raised guidance for full-year net income and equipment operations cash flow signals management’s confidence in maintaining earnings momentum through shifting market cycles. Finance Yahoo reported that a robust 84% increase in construction and forestry operating profit helped offset lingering agricultural equipment weakness, while the ongoing uptake of precision agriculture technologies has further diversified the profit base and strengthened Deere’s growth narrative.

Momentum strengthens as buyers dominate above technical support

From a technical standpoint, DE has held above its MA-20 at $609.34, MA-50 at $608.76, and MA-200 at $558.06. Immediate support is defined by the Ichimoku Kijun at $610.51. Momentum remains strong with MACD and ADX displaying buy signals, while RSI at 68.07, along with Stoch RSI, CCI, and Bull/Bear Power, all highlight overbought conditions and clear intraday buyer dominance. The Awesome Oscillator is also positive, supporting the upward momentum and heightened volatility.

Bullish breakout risk rises amid limited downside and high volatility

Over the next two to three trading days, DE is expected to trade within the $612.9 to $666.28 band, consistent with recent volatility. There is a very high probability (over 80%) of further upside, while downside risk is viewed as very low. The baseline expectation is for consolidation within this range; a bullish breakout above resistance would extend gains, while a drop below $610.51 could trigger a more substantial pullback.

Viktoras Karapetjanc, expert at Traders Union, sees Deere’s strong earnings beat and guidance upgrade as clear signs of robust fundamental strength. He believes diversification into construction and precision agriculture is supporting sentiment and mitigating downside from weak ag cycles. Technical momentum confirms buyers are in control above key moving averages. With volatility elevated but downside risk low, Karapetjanc expects consolidation within the $612.9–$666.28 zone in the near term. "I remain constructive on Deere, as leadership in innovation and solid cash flow outlook underpin further price appreciation potential."

Earlier, analysts noted that Deere maintained a bullish technical structure and attracted notable institutional accumulation despite heightened volatility. The recent earnings beat and upgraded guidance add a new dimension to the outlook, with elevated volatility signaling that traders should closely monitor for a sustained move beyond the current resistance band to confirm continued upside.

Source of Data: DE Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.