Downtrend Spotted in Shares of Archer-Daniels-Midland (ADM)
SmarTrend identified a Downtrend for Archer-Daniels-Midland (NYSE: ADM) on January 25, 2010 at $30.20. In approximately 1 month, Archer-Daniels-Midland has returned 3.1% as of today's recent price of $29.27.
Archer-Daniels-Midland is currently below its 50-day moving average of $30.44 and below its 200-day moving average of $29.50. Look for these moving averages to decline to confirm the company's downward momentum.
SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of Archer-Daniels-Midland.
Write to Chip Brian at cbrian@tradethetrend.com
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