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SmarTrend Watching for Potential Pullback in Shares of Archer-Daniels After 3.16% Gain

By James Quinn

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.

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.

In the past 52 weeks, Archer-Daniels share prices have been bracketed by a low of $28.92 and a high of $47.20 and are now at $35.83, 24% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 1.6%.

Keywords: rebounders archer-daniels

Ticker(s): ADM