$ADM with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $ADM after a POsitive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 90%.
A1DM34 trade ideas
Double Top, Daily Chart, Short Idea I can't help but clearly see the large double top formation, and when this happens my gut tells me not to ignore it since they tend to have a very high rate of success playing out correctly, double tops (M) and double bottoms (W). Double Tops = downtrend upcoming and Double Bottom = uptrend upcoming
It looks as if shorting to the target of $41 would be a good idea. Getting put options. Let me know what you think.
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ADM StrategyClear signs of a inverse head and shoulders pattern. Low angle neckline feature, signals a weaker bullish trend. Additional patterns of 2 bars of indecision putting a halt on the previous bullish push, followed by a "Dark Cloud Cover" candlestick pattern. if ADM closes in red for the following day, we would expect a bearish trend to support. On either event, good gains could be made for a long or short position.
ADM Equality Mirror TargetProjection 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.
Archer Daniels Could Be Fighting HigherThe 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 15 percent of the S&P 500’s members were above their 200-day SMAs yesterday, according to TradeStation data?)
It then jumped to begin October and managed to hold the higher level despite the broader market rolling over. That is a potential sign of relative strength.
The current price zone also establishes ADM back above it 50-day SMA, which could suggest the bulls are taking charge.
Finally, this chart includes our 2 MA Ratio custom script. It has the default settings of the 8- and 21-day exponential moving averages (EMAs). Notice how the indicator just turned green, signifying the faster EMA has crossed above the slower EMA.
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ADM: upside momentum to remain?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.
Can $ADM hold support and move higher from here?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 its 20EMA
Technicals:
Sector: Consumer Defensive - Farm Products
Relative Strength vs. Sector: 2.78
Relative Strength vs. SP500: 1.55
U/D Ratio: 1.81
Base Depth: 37.27%
Distance from breakout buy point: -10.61%
Volume 22.31% above its 15 day avg.
Trade Idea:
* You can enter now as the price is bouncing off of its 20EMA and a key support level around $87.2
* If you want a better entry you can look to enter around $87.2 or if it pulls back closer to the 20EMA
* This stock usually has local tops when the price closes around 12.92% above its 50 EMA
* Consider selling into strength if the price closes 12.72% to 13.12% (or higher) above its 50 EMA
* The last closing price is 4.89% away from its 50 EMA
ADM and WTZ2+AO in the ZoneADM 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!
Wheat price hike in summerWorld 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.
$ADM offering a pull-back recovery entry?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%
* Distance from breakout buy point: 0.45%
* Volume 73.23% above its 15 day average.
Trade Idea:
* You can enter now as the price is recovering from the pull-back with higher than average volume.
* If you're looking for a better entry you can look for an opportunity around $93.5
* Or even $92.1 given the current market conditions
* Manage risk accordingly
ADM - long - pullback - Keltner channelsPullback - daily
Lower timeframes are now bullish and showing signs of the trend turning.
Above the 200.
Account size - $50k
Position size - 1% = $500 = 5 shares
ATR - $2.60
SL - 2 ATRs
TP - 2 ATRs
deadline - 9 days (May 1st)
Current price: $90.97
SL - $5.20 = $90.97- $5.20 = $85.77
TP - $5.20 = $90.97 + $5.20 = $96.17
NYSE:ADM
