Advertisement
U.S. markets close in 2 hours 8 minutes
  • S&P 500

    5,252.24
    +3.75 (+0.07%)
     
  • Dow 30

    39,782.90
    +22.82 (+0.06%)
     
  • Nasdaq

    16,381.47
    -18.05 (-0.11%)
     
  • Russell 2000

    2,123.97
    +9.62 (+0.45%)
     
  • Crude Oil

    82.97
    +1.62 (+1.99%)
     
  • Gold

    2,240.90
    +28.20 (+1.27%)
     
  • Silver

    24.94
    +0.19 (+0.76%)
     
  • EUR/USD

    1.0799
    -0.0030 (-0.28%)
     
  • 10-Yr Bond

    4.2100
    +0.0140 (+0.33%)
     
  • GBP/USD

    1.2626
    -0.0012 (-0.10%)
     
  • USD/JPY

    151.3720
    +0.1260 (+0.08%)
     
  • Bitcoin USD

    70,764.59
    +1,689.09 (+2.45%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • Nikkei 225

    40,168.07
    -594.66 (-1.46%)
     

Archer Daniels Midland (ADM) Just Reclaimed the 20-Day Moving Average

Archer Daniels Midland (ADM) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, ADM crossed above the 20-day moving average, suggesting a short-term bullish trend.

The 20-day simple moving average is a well-liked trading tool because it provides a look back at a stock's price over a 20-day period. Additionally, short-term traders find this SMA very beneficial, as it smooths out short-term price trends and shows more trend reversal signals than longer-term moving averages.

The 20-day moving average can show signals that are similar to other SMAs as well. If a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.

ADM could be on the verge of another rally after moving 7.3% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.

The bullish case only gets stronger once investors take into account ADM's positive earnings estimate revisions. There have been 6 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.

Investors should think about putting ADM on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Archer Daniels Midland Company (ADM) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research

Advertisement