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After Yesterday's Rally of 3.16% Shares Could Potentially Pullback

By David Diaz

Archer-Daniels (NYSE:ADM) traded in a range yesterday that spanned from a low of $35.25 to a high of $35.76. Yesterday, the shares gained 3.2%, which took the trading range above the 3-day high of $35.56 on volume of 922,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Archer-Daniels share prices have moved between a 52-week high of $47.20 and a 52-week low of $28.92 and are now trading 24% above that low price at $35.83 per share. The 200-day and 50-day moving averages have moved 0.28% lower and 1.56% lower over the past week, respectively.

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