Archer-Daniels-Midland Company : Technical accumulation phase
March 09, 2015 at 03:56 pm
By
Entry price | Target | Stop-loss | Potential |
---|
US$46.17 |
US$0 |
US$45 |
-100% |
---|
A brief long position could be taken on the stock.
Fundamentally the stock has a few assets. The net income has grown over 67% in 2014. The current price show a +13% appreciation potential compared with the consensus’ average price target.
Since the early January the stock has started a consolidation stage between the USD 46.15 short term support and the USD 48.76 short term resistance. As the current price is very close from this short term support it could be opportune to take a long position now. A first target price will be set at USD 48.76 and a stop loss will set at USD 45.
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