Nov. 15 at 10:31 PM
$ADM is currently experiencing bearish momentum, with a last close of
$58.61, below both the 30-day (MA30=60.65) and 50-day moving averages (MA50=60.76). The RSI at 34.54 indicates that the stock is approaching oversold territory, suggesting potential for a reversal, but current trends remain weak. The price is also near the 60-day low of
$55.58, which could act as a support level.
For a trade plan, consider entering a long position if the price breaks above
$59.00, which is just above the recent close and could signal a reversal. Set a stop loss at
$55.50 to manage risk. Target 1 can be set at
$61.00, aligning with the MA30, and Target 2 at
$62.50, just below the 60-day high of
$65.00.
Overall, the trade is contingent on a breakout from the current downtrend, with careful attention to the RSI and moving averages for confirmation.
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