CFD Trading – Buy Archer Daniels Midland Co. (ADM.NYS) @ $50.40. Stop @ $47.80 and Target @ $56.50.

Price reached a high of $51.67 on 23 October 2020 and has been on a decline. However on 3 separate occasions, during the price correction, price had managed to stay above the cloud, keeping the uptrend intact. Conversion and Base lines had a bullish crossover, hinting of a bullish price trend. Price has also broken above a downtrend lines starting from the high which is another hint that the correction is over and a rally is likely to send price above the recent high and up to $56.50. MACD is above the zero line, and has a bullish crossover hinting of bullish price trend ahead.

$50.40              Buy
$56.50              Price Target
$47.80              Risk Management Stop
3 weeks            Trade Duration

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