Show

Resistance

Daily

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>ADM stock chart shows a trendline breakout as the price surged above the 200-day EMA.</a> </li> 
 <li> <span>2</span> <a>Bulls showed their strength and led the rally beyond the barriers.</a> </li> 
</ul> 
<p>Archer-Daniels-Midland Company (ADM stock) price surged beyond 200-day EMA, showing a breakout. Moreover, the chart shows a rising parallel channel, and the price broke the channel high of $83 in the last session. Furthermore, ADM stock entered the bullish region, and buyers are heading to catch the three-digit round mark ($100) in the upcoming sessions.</p> 
<p>The chart shows that ADM stock is now gaining traction and surpassed the 50% Fib level forming a long bullish marubozu candle showing a breakout of the neckline in the last session. Moreover, the shorts were trapped, and a short covering rally will further extend the gains in the next session toward the trajectory of $90, followed by $100.</p> 
<p>In the last session, ADM stock posted its Q2 earnings which were above the estimates, and the street showed their interest through huge accumulation. The EPS was up by 18.70% (QoQ) and the EBITDA by 213% (YoY).</p> 
<p>Archer-Daniels-Midland Co. engages in the production of oilseeds, corn, wheat, cocoa, and other agricultural commodities. It operates through the following segments: Ag Services and Oilseeds, Carbohydrate Solutions, Nutrition, and Other.&nbsp;</p> 
<p>The Ag Services and Oilseeds segment includes activities related to the origination, merchandising, transportation, and storage of agricultural raw materials, and the crushing and further processing of oilseeds such as soybeans and soft seeds cottonseed, sunflower seed, canola, rapeseed, and flaxseed into vegetable oils and protein meals. The Carbohydrate Solutions segment consists of corn and wheat wet and dry milling and other activities.&nbsp;</p> 
<p>The Nutrition segment serves various end markets, including food, beverages, nutritional supplements, and feed and premix for livestock, aquaculture, and pet food.</p> 
<p>At press time, ADM stock was traded at $86.05 with an intraday gain of 3.54%, showing a breakout in yesterday’s session. Moreover, the trading volume increased by 29% to 4.331 Million, showing the investors’ demand. The market cap of ADM stock is $46.866 Billion.</p> 
<h2 class="wp-block-heading" id="strong-daily-charts-show-range-breakout-strong"><strong>Daily Charts Show Range Breakout</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/tSmwRdl4y9IHDDxkXRsCytsSjTuzDk-LlZ1fLbXNSICUfkBjY487St-2Aj-xwkBRci0wlxCDYdiGY3gZrLRKEsXSbdQqDz6H2-Ze1bWEPYwiYn6ezgEyFaap4K5faApuEC1o1KDLVu-1ZZO_bbZoY34" alt="ADM Stock (NYSE: ADM) Surges Post Q2 Earnings Results, What next?"> 
  <figcaption class="wp-element-caption">
    Source: ADM Stock Price Chart at TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>On the daily charts, ADM stock price has shown a correction from the past months and retested the demand zone of $70. Afterwards, buyers accumulated the stock and noted a trend reversal. The trend extension and stretch in gains was recently pointed out above the neckline of $80. The trend showcased that long buildup activity has increased massively, and buyers are attaining their grip.</p> 
<p>Furthermore, the price surpassed neutrality and indicated fresh bullishness on the charts. A massive rally can be seen if follow-on buying arises and the price exceeds $90.</p> 
<h2 class="wp-block-heading" id="strong-what-technical-indicators-say-strong"><strong>What Technical Indicators Say?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/1DOxLSgqxANNCRUdkEuBS2LcUCT-45Vv6hKRFnuNB_Uw17u_mzrobsm8nLV2boVmj-rGntrsveVBm98z98RGdR1icRitBEqoTZRqD9OfpkpLXRtnw50aBSLsq29OWvmUfY_rYErvdC9O_06rk0tBZ_A" alt="ADM Stock (NYSE: ADM) Surges Post Q2 Earnings Results, What next?"> 
  <figcaption class="wp-element-caption">
    Source: ADM Stock Price Chart at TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>The RSI curve stayed in the overbought zone and noted a positive crossover, indicating a massive breakout in the last sessions, suggesting a further trend extension in the upcoming sessions.</p> 
<p>The MACD indicator showed a bullish crossover and indicated buyers’ dominance on the charts.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p><a href="https://www.thecoinrepublic.com/2023/06/29/adm-stock-price-shedding-volatility-but-will-likely-remain-choppy/" target="_blank" rel="noopener noreferrer nofollow">Archer-Daniels-Midland stock (ADM) price</a> surpassed the key moving averages, breaking the channel highs of $83, showing a breakout on the charts. Moreover, a golden crossover was noted, an early indication of bullishness for the following sessions.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels:</strong></h4> 
<p>Support Levels: $80 and $75</p> 
<p>Resistance Levels:$90 and $100</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

ADM Stock (NYSE: ADM) Surges Post Q2 Earnings Results, What next?

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Thecoinrepublic.com

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