Archer-Daniels-Midland Stock Forecast

Archer-Daniels-Midland stock downgraded from Buy Candidate to Hold/Accumulate after Monday trading session.
(Updated on Apr 22, 2024)

ADM Signals & Forecast

The Archer-Daniels-Midland stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $61.29 and $60.34. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -2.19%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Archer-Daniels-Midland stock

On the downside, the stock finds support just below today's level from accumulated volume at $52.63 and $52.31. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Archer-Daniels-Midland finds support just below today's level at $52.63. If this is broken, then the next support from accumulated volume will be at $52.31 and $51.38.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.40 between high and low, or 2.27%. For the last week the stock has had daily average volatility of 1.97%.

Our recommended stop-loss: $59.69 (-4.50%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)

Trading Expectations (ADM) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect Archer-Daniels-Midland Company to open at $62.34, and during the day (based on 14 day Average True Range), to move between $61.25 and $63.75, which gives a possible trading interval of +/-$1.25 (+/-2.00%) up or down from last closing price. If Archer-Daniels-Midland Company takes out the full calculated possible swing range there will be an estimated 4.00% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $62.81 (0.50%) than the support at $52.63 (15.79%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Archer-Daniels-Midland Company stock A Buy?

Archer-Daniels-Midland holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.875 Hold/Accumulate Downgraded

Predicted Opening Price for Archer-Daniels-Midland Company of Tuesday, April 23, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.