Archer-Daniels-Midland Crosses Below its 10-day MA (ADM)
Archer-Daniels-Midland (NYSE:ADM) crossed under its 10-day moving average of $43.42 on a volume of 527K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Archer-Daniels-Midland share prices have moved between a 52-week high of $53.31 and a 52-week low of $29.86 and are now trading 45% above that low price at $43.28 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.2% while the 200-day MA has slid 0.4%.
SmarTrend recommended that subscribers consider buying shares of Archer-Daniels-Midland on May 23rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $40.19. Since that recommendation, shares of Archer-Daniels-Midland have risen 9.1%. We continue to monitor ADM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses archer-daniels-midland