Read today's promising find and trading idea for the stock market.
The Chart of the Day belongs to Archer Daniels Midland (ADM). I found the stock by using Barchart.com to find “Barchart New Highs” page and then I clicked on pull-down to select stocks with new 52-week highs. I then viewed the stocks on the list with the FlipCharts feature. ADM on Friday matched August’s 3-1/4 year high of $51.11 and closed the day sharply higher by +1.21%. ADM has moved sideways for the past two months near the top of the June-Aug rally and could be staging for a new upside breakout. Barchart’s proprietary TrendSpotter trading system turned neutral on Friday.
Archer Daniels Midland Company procures, transports, stores, processes, and merchandises agricultural commodities and products. Its operations are classified into three business segments: Oilseeds Processing, Corn Processing, and Agricultural Services. The Company processes oilseeds, corn, wheat, cocoa, and other agricultural commodities. It manufactures protein meal, vegetable oil, corn sweeteners, flour, biodiesel, ethanol, and other value-added food and feed ingredients. Archer-Daniels-Midland Company is headquartered in Decatur, Illinois.
