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SmarTrend Watching for Potential Pullback in Shares of Archer-Daniels After 2.37% Gain

By David Diaz

Archer-Daniels (NYSE:ADM) traded in a range yesterday that spanned from a low of $44.58 to a high of $44.86. Yesterday, the shares gained 2.4%, which took the trading range above the 3-day high of $44.64 on volume of 718,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Archer-Daniels has traded in a range of $36.45 to $47.20 and is now at $45.19, 24% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% 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