Archer Daniels Stock Code ADM.NYS
Price failed to move above the cloud during a price correction and in the previous trading session, price broke below the cloud, hinting at a resumption of the bearish price trend. The previous correction stopped right at the Fibonacci 62% correction point as well. Lagging Span is below price of 26 days ago but is inside the cloud. MACD is bearish and hinting at a bearish price trend. We see price moving lower to the Fibonacci 127% price projection target as well as a previous price resistance turned support at $77.67.
$88.90 Price Target
$77.70 Risk Management Stop
3 weeks Trade Duration