The Greedy Trader Weekly Analysis
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Downtrend Broken Resistance
Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.
Technical analysis of stock trend chart following long term trend analysis and trend following indicator for broken resistance trend trading. Stock trend analysis and broken resistance trend following indicators.
trend trading,trend following,stock trend chart,technical analysis of stock trend,trend following indicator,following long term trend,Broken Resistance

Downtrend Broken Resist.

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- 1/8/2021 -
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Archer-Daniels-Midland (ADM)

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Summary:
Weekly :Williams' Percentage Range is strongly overboughtBroken trend resistance line
Daily :Williams' Percentage Range is overbought
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It was a second positive week after 3 consecutive negative weeks for the Archer-Daniels-Midland (ADM). During the week, the ADM gained 2.16 points, or 4.28%, and closed at 52.57 on Friday, January 8, 2021. It was the best weekly gain since October 9, 2020. ADM was trading at average weekly trading volume.

Long-term trend: [See ADM long-term trend chart]
A long-term downtrend had started on October 8, 2018 at 52.07 and reached 28.92 on March 23, 2020. ADM lost 23.15 points, or 44.46%, in 76 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The downtrend resistance line (19.23) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. ADM may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See ADM medium-term trend chart]
A medium-term uptrend had started on March 23, 2020 at 28.92 and reached 53.57 on January 6, 2021. ADM gained -24.65 points, or -85.24%, in 41 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 50.83 and resistance is at 57.33. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See ADM weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.

The weekly MACD line is below its signal line since December 11, 2020. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.

Short-term trend: [See ADM short-term trend chart]
A short-term uptrend had started on January 5, 2021 at 51.16 and reached 53.57 on January 6, 2021. ADM gained -2.41 points, or -4.71%, in 1 days. The price is now at the 41.49% retracement level.

Daily Technical Indicators: [See ADM daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range.

The daily MACD line is above its signal line since December 29, 2020. This is an indication that the short-term trend is up.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 71.01
Williams' Percentage Range (W%R) 19.00
Overbought
Lane's Stochastic (%D-Slow) 75.18
Greed/Fear Indicator (GFI) 75.74
Moving Average Converg./Diverg. (MACD) 0.30
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 63.30
Williams' Percentage Range (W%R) 9.20
Strong Overbought
Lane's Stochastic (%D-Slow) 67.26
Greed/Fear Indicator (GFI) 70.96
Moving Average Converg./Diverg. (MACD) 2.23
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 57.33
Upper Bollinger Band 52.85
Daily Stochastic Crossing 52.74
Price 52.57
Weekly Stochastic Crossing 51.75
Quarterly Trendline Support 50.83
Parabolic System 50.80
20 Day Moving Average 50.02
50 Day Moving Average 49.63
Lower Bollinger Band 48.06
Yearly Trendline Resistance 42.87
Sector and Industry
Description Name Rank
Sector Consumer Staples 4
Industry Agricultural Products 61
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 51.16
Low Date 01/05/2021
High 53.57
High Date 01/06/2021
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 48.12
Low Date 11/19/2020
High 53.57
High Date 01/06/2021
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 45.68
Low Date 10/30/2020
High 53.57
High Date 01/06/2021
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 57.33
Support 50.83
Low 28.92
Low Date 03/23/2020
High 53.57
High Date 01/06/2021
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Broken Resistance
Resistance 42.87
Support 19.23
High 52.07
High Date 10/08/2018
Low 28.92
Low Date 03/23/2020
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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