The PEAD projected a Bullish outlook for $ADM after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 40%.
Projection based on Fibonacci analysis. This chart shows equality relationship. 84 is likely a key level because of gaps. You could try the 2020 pivot low for the lower box and you will find a confluence with 38% subdivision.
This suggests a continued rise in wheat price and other ag.
The S&P 500 and Nasdaq-100 have made new multiyear lows this week. That helps draw attention to the price action in today’s stock, which has been fighting higher all year: Archer Daniels Midland.
The grain processor bottomed in mid-July, followed by a higher low in late September. It also managed to hold its 200-day simple moving average (SMA). (Did you know only...
A price action above 84.00 supports a bullish trend direction.
Crossing below this level will negate the bullish trend.
Consolidation price range from 86.00 to 88.00.
Crossing above 88.00 might assist the bullish trend to target 92.00.
Crossing below 86.00 will be the first sign of pending weakness.
Remains above its 200-day simple moving average.
Notes:
* Very strong up trend on all time frames
* Good earnings in the recent quarters
* Basing for the past ~6 months
* Coming up on the right side of its base
* Recently broke back above a key level around ~$87.2 and has been holding this level as support with higher than average volume
* Printed an inside day with higher than average volume
* Bouncing off of...
Hello
We are at the top for this company stock. Looking for a correction to start coming in.
More details about the company can be found on the investor relations of the company website.
Good luck.
ADM is likely WTZ2 pattern perfectly while AO in the Zone signal is applied for competitive entry. I expect a few TP, the 1st one is at the end of B and the previous high could be the 2nd. However, the entry size is as significant as the entry price. Calculate your risks well before trading. Good Luck!
ADM is likely moving in downtrend. I apply my favorite setup (WTZ2) for entering the order. For the trade setup, risks reward ratio is also competitive for me. Enjoy your trading!
A complete chart pattern formation
Following the completion of this a large bullish rise is to be expected
Which is already being seen on this log chart
World wheat prices soared by 19.7% during March, while maize prices posted a 19.1% month-on-month increase, hitting a record high along with those of barley and sorghum. The FAO said these problems were likely to persist, leading to higher prices, lower stocks and uncertainty in the wheat market in the future.
Notes:
* Great earnings record in the past 2 years
* Very strong up trend in all time frames
* Offering a potential pull-back recovery entry
* Recovering with well above average volume
Technicals:
* Sector: Consumer Defensive - Farm Products
* Relative Strength vs. Sector: 4.42
* Relative Strength vs. SP500: 8.38
* U/D Ratio: 1.62
* Base Depth: 14.79%
*...
