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Archer-Daniels (ADM) Crosses Pivot Point Support at $43.24

By Nick Russo

Archer-Daniels (NYSE:ADM) has opened bearishly below the pivot of $43.51 today and has reached the first level of support at $43.24. Investors may be interested in a cross of the next downside pivot targets of $43.02 and $42.53.

Archer-Daniels (NYSE:ADM) has potential upside of 11.0% based on a current price of $43.47 and analysts' consensus price target of $48.25. The stock should find resistance at its 200-day moving average (MA) of $46.27, as well as support at its 50-day MA of $42.78.

Archer-Daniels share prices have moved between a 52-week high of $52.07 and a 52-week low of $39.16 and are now trading 11% above that low price at $43.47 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.

SmarTrend is tracking the current trend status for Archer-Daniels and will alert subscribers who have ADM in their portfolio or watchlist when shares have changed trend direction.

Keywords: pivot alerts archer-daniels

Ticker(s): ADM