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Archer-Daniels Looks to Continue to Trade Below its Annual-Low Share Price Today

By David Diaz

Shares of Archer-Daniels (NYSE:ADM) traded at a new 52-week low today of $29.90. Approximately 336,000 shares have changed hands today, as compared to an average 30-day volume of 3.8 million shares.

Archer-Daniels share prices have moved between a 52-week high of $47.20 and the current low of $29.90 and are currently at $30.28 per share. The 200-day and 50-day moving averages have moved 0.36% lower and 2.94% lower over the past week, respectively.

Archer-Daniels-Midland Company procures, transports, stores, and merchandises agricultural commodities and products. The Company processes oilseeds, corn, milo, oats, barley, peanuts, and wheat. Archer-Daniels-Midland also processes produce products which have primarily two end uses including food or feed ingredients.

Potential upside of 59.4% exists for Archer-Daniels, based on a current level of $30.28 and analysts' average consensus price target of $48.25. Archer-Daniels shares should first meet resistance at the 200-day moving average (MA) of $41.34 and find additional resistance at the 50-day MA of $41.47.

SmarTrend recommended that its subscribers protect gains by selling shares of Archer-Daniels on February 24th, 2020 by issuing a Downtrend alert when the shares were trading at $42.69. Since that call, shares of Archer-Daniels have fallen 28.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows archer-daniels

Ticker(s): ADM