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|It was the negative week for the Archer-Daniels-Midland (ADM). During the week, the ADM dropped -1.26 points, or -2.53%, and closed at 48.61 on Friday, November 20, 2020. Weekly volume was -31% below average. |
Long-term trend: [See ADM long-term trend chart]
A long-term downtrend had started on October 8, 2018 at 52.07 and reached 28.92 on March 23, 2020. ADM lost 23.15 points, or 44.46%, in 76 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The downtrend resistance line (20.77) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
Medium-term trend: [See ADM medium-term trend chart]
A medium-term uptrend had started on March 23, 2020 at 28.92 and reached 52.05 on October 23, 2020. ADM gained -23.13 points, or -79.98%, in 30 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 47.39 and resistance is at 53.89. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.
Weekly Technical Indicators: [See ADM weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since May 29, 2020. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
Short-term trend: [See ADM short-term trend chart]
A short-term downtrend had started on November 16, 2020 at 50.65 and reached 48.12 on November 19, 2020. ADM lost 2.53 points, or 5.00%, in 3 days. The price is now at the 19.37% retracement level.
Daily Technical Indicators: [See ADM daily technical indicators chart]
Daily technical indicators are neutral. Daily MACD has bullish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
Price is close to the 50 Day Moving Average. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.