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After Yesterday's Decline of 1.14%, Archer-Daniels-Midland Offers Investors Better Value
Jan 28, 2013 (SmarTrend(R) News Watch via COMTEX) --
Archer-Daniels-Midland (NYSE:ADM) traded in a range yesterday that spanned from a low of $28.19 to a high of $28.93. Yesterday, the shares fell 1.1%, which took the trading range below the 3-day low of $28.63 on volume of 4.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.
Archer-Daniels-Midland share prices have moved between a 52-week high of $33.98 and a 52-week low of $24.38 and are now trading 17% above that low price at $28.64 per share. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.0%.
SmarTrend recommended that subscribers consider buying shares of Archer-Daniels-Midland on November 21st, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.27. Since that recommendation, shares of Archer-Daniels-Midland have risen 10.3%. We continue to monitor ADM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Write to Chip Brian at cbrian@mysmartrend.com
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