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Archer-Daniels Falls 1.13% on Heavy Volume: Watch For Potential Rebound

By James Quinn

Archer-Daniels (NYSE:ADM) traded in a range yesterday that spanned from a low of $44.85 to a high of $45.16. Yesterday, the shares fell 1.1%, which took the trading range below the 3-day low of $45.02 on volume of 675,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Archer-Daniels has traded in a range of $36.45 to $47.20 and is now at $44.81, 23% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has remained constant.

SmarTrend is monitoring the recent change of momentum in Archer-Daniels. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Archer-Daniels in search of a potential trend change.

Keywords: rebounders archer-daniels

Ticker(s): ADM