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Watch for Archer-Daniels to Potentially Rebound After Falling 1.51% Yesterday

By Shiri Gupta

Archer-Daniels (NYSE:ADM) traded in a range yesterday that spanned from a low of $34.77 to a high of $34.77. Yesterday, the shares fell 1.5%, which took the trading range below the 3-day low of $34.94 on volume of 1.1 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, Archer-Daniels share prices have been bracketed by a low of $28.92 and a high of $47.20 and are now at $34.55, 19% 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 2.1%.

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