Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Chart Analysis: Two Stocks Ready To Bounce

|Includes: Caterpillar Inc. (CAT)

While many stocks sit near 52 week highs and others sit near all time highs, some stocks have been crushed and trade near 52 week lows. Two of those stocks are Deere & Company (NYSE:DE) and Caterpillar Inc. (NYSE:CAT). Both had bottoming tails yesterday and are trading at 2013 lows. Note the stats below.

Deere & Company (NYSE:DE)
2013 High: $95.60
2013 Low: $81.58
Current Price: $$82.50
Bottoming Tail: 04/17/2013

Caterpillar Inc. (NYSE:CAT)
2013 High: $99.70
2013 Low: $80.10
Current Price $80.50
Bottoming Tail: 04/17/2013

Both stocks are very attractive at current levels after selling off sharply on global growth worries. Caterpillar has earnings on the morning of 04/22/2013. Current earnings expectations and even a small miss have been factored in on the stock. While not a long term buy level, it is likely that the current level represents a good area for an upside bias to the $85.00-$87.00. Deere has upside potential to $85.50.

Gareth Soloway