Archer Daniels Could Be Fighting Higher
The S&P 500 and Nasdaq-100 have made new multiyear lows this week. That helps draw attention to the price action in today’s stock, which has been fighting higher all year: Archer Daniels Midland.
The grain processor bottomed in mid-July, followed by a higher low in late September. It also managed to hold its 200-day simple moving average (SMA). (Did you know only 15 percent of the S&P 500’s members were above their 200-day SMAs yesterday, according to TradeStation data?)
It then jumped to begin October and managed to hold the higher level despite the broader market rolling over. That is a potential sign of relative strength.
The current price zone also establishes ADM back above it 50-day SMA, which could suggest the bulls are taking charge.
Finally, this chart includes our 2 MA Ratio custom script. It has the default settings of the 8- and 21-day exponential moving averages (EMAs). Notice how the indicator just turned green, signifying the faster EMA has crossed above the slower EMA.
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This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: https://www.tradestation.com/important-information.
The grain processor bottomed in mid-July, followed by a higher low in late September. It also managed to hold its 200-day simple moving average (SMA). (Did you know only 15 percent of the S&P 500’s members were above their 200-day SMAs yesterday, according to TradeStation data?)
It then jumped to begin October and managed to hold the higher level despite the broader market rolling over. That is a potential sign of relative strength.
The current price zone also establishes ADM back above it 50-day SMA, which could suggest the bulls are taking charge.
Finally, this chart includes our 2 MA Ratio custom script. It has the default settings of the 8- and 21-day exponential moving averages (EMAs). Notice how the indicator just turned green, signifying the faster EMA has crossed above the slower EMA.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. You Can Trade, Inc. is also a wholly owned subsidiary of TradeStation Group, Inc., operating under its own brand and trademarks. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: https://www.tradestation.com/important-information.
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