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Archer-Daniels Set to Possibly Rebound After Yesterday's Selloff of 1.78%

By Shiri Gupta

Archer-Daniels (NYSE:ADM) traded in a range yesterday that spanned from a low of $41.14 to a high of $41.78. Yesterday, the shares fell 1.8%, which took the trading range below the 3-day low of $42.10 on volume of 1.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Archer-Daniels have traded between a low of $39.01 and a high of $47.88 and are now at $41.35, which is 6% above that low price. 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 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: rebounders archer-daniels

Ticker(s): ADM