Market Overview

Archer Daniels Forms Weekly Wedge

ADM has formed a weekly chart wedge that could be seen as a bullish continuation pattern on a breakout above.

As mentioned the weekly view tells the story. Over the past 2 years prices have made lower highs, and higher lows signaling indecision in the stock. It has also hovered above and below its 200 SMA. With prices near the top of the wedge ADM should be keep on your radar for a possible breakout to the upside.

Posted-In: Technicals Trading Ideas

 

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