After Yesterday's Rally of 1.17% Shares Could Potentially Pullback
Archer-Daniels-Midland (NYSE:ADM) traded in a range yesterday that spanned from a low of $43.90 to a high of $44.43. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $43.96 on volume of 902,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, Archer-Daniels-Midland share prices have been bracketed by a low of $29.86 and a high of $53.31 and are now at $44.34, 48% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 1.2%.
SmarTrend is tracking the current trend status for Archer-Daniels-Midland and will alert subscribers who have ADM in their portfolio or watchlist when shares have changed trend direction.
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