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Friday, April 18, 2008

Archer-daniels-midland Company (ADM) Technical Analysis

Today we'll analyze the Stock ADM for online market trading,
Technical indicators to notice:
1- Last bearish trend was from 42.70$ (03/25/08) to 41.16$ (03/31/08) a 1.54$ move
2- The current bullish trend started from 41.16$ at 03/31/08 and is currently trading at 45.20$.

3- According to ADX, the trend is currently bullish,which is becoming weaker.
Short term chart patterns :

4- The Stock formed a 3.34$ height triangle which was broken up at 42.53, target of the pattern is 45.87.
Mid term chart patterns :

None.
Long term chart patterns :

None.

Conclusion:
ADM was trading in a bullish wave, which is becoming weaker .
Technical indicators and chart patterns show bullish direction,
recommend stopping short positions or entering long position or bullish spread options strategy .

Resistance Levels: 45.87.
Support Levels: 44.25, 43.66, 43.18, 42.70, 41.16, 39.42, 38.96, 38.27, 37.90, 36.29, 32.31, 32.20,.


That's all for today ... thanks for reading the post,
come back soon for more updates,
use the search to lookup for more interesting stocks you might be interested in,







feel free to leave your comments on the post, or contact me

enjoy your online market trading!!
have a nice day,

Shadi
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