2 Stocks Downgraded on Agricultural Production Cuts

Both DE and CNHI are lower today after a downgrade from Evercore ISI

Deputy Editor
Sep 19, 2023 at 1:21 PM
facebook X logo linkedin


Evercore ISI downgraded both Deere & Co (NYSE:DE) and CNH Industrial NV (NYSE:CNHI) to "in line" from "outperform" today, citing agricultural production cuts. Both stocks are dipping after the bear note; DE is down 2.8% to trade at $399.19 at last glance, while CNHI is off 4.3% at $12.79. 

On the charts, familiar support at the $400 region is capturing Deere stock's pullback. Plus, its 320-day moving average, which captured the stock's late-August dip, lingers below as potential support. Year-to-date, DE is down 6.7%. 

CNHI, on the other hand, is seeing pressure from a host of short- and long-term trendlines, dipping below its 20-day moving average today. It's also worth noting that the stock's implied volatility (IV) hit a 52-week low today. Since the start of the year, the equity is down 20%. 

Meanwhile, it looks like a good time to weigh in on both of these stocks with options. DE's Schaeffer's Volatility Index (SVI) of 20% ranks in the low 10th percentile of its annual range, while CNHI's SVI of 30% sits in the 9th percentile. This means options traders are pricing in low volatility expectations for both. 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI