The Greedy Trader Weekly Analysis
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S&P 500 Oversold Stocks

Archive
- 3/17/2023 -
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Archer-Daniels-Midland (ADM)

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Summary:
Weekly :Oversold industryRelative Strength Index and Williams' Percentage Range oversoldLane's Stochastic is strongly oversoldTrend support at 72.74
Daily :The price is below the lower Bollinger BandLane's Stochastic bullish divergenceTrend support at 74.03
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It was the negative week for the Archer-Daniels-Midland (ADM). During the week, the ADM dropped -2.40 points, or -3.13%, and closed at 74.26 on Friday, March 17, 2023. Weekly volume was 6% above average.

ADM is a member of Agricultural Products Industry. Agricultural Products is the most oversold industry. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See ADM long-term trend chart]
A long-term uptrend had started on March 23, 2020 at 28.92 and reached 98.88 on April 21, 2022. ADM gained -69.96 points, or -241.91%, in 108 weeks. The price is now at the 35.19% retracement level.

Medium-term trend: [See ADM medium-term trend chart]
A medium-term downtrend had started on November 4, 2022 at 98.28 and reached 73.98 on March 17, 2023. ADM lost 24.30 points, or 24.73%, in 19 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend support (72.74) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a medium-term trend.

Weekly Technical Indicators: [See ADM weekly technical indicators chart]
Weekly Relative Strength Index and Williams' Percentage Range are oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Relative Strength Index and Williams' Percentage Range or strongly oversold weekly Lane's Stochastic. 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is below its signal line since December 30, 2022. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.

Short-term trend: [See ADM short-term trend chart]
A short-term downtrend had started on January 17, 2023 at 89.32 and reached 73.98 on March 17, 2023. ADM lost 15.34 points, or 17.17%, in 59 days. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend support (74.03) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a short-term trend.

Daily Technical Indicators: [See ADM daily technical indicators chart]
Daily technical indicators are neutral. Daily Lane's Stochastic has bullish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal.

The daily MACD line is below its signal line since March 8, 2023. This is an indication that the short-term trend is down.

The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 28.60
Williams' Percentage Range (W%R) 72.70
Lane's Stochastic (%D-Slow) 27.59
Bullish
Greed/Fear Indicator (GFI) 27.82
Moving Average Converg./Diverg. (MACD) -1.54
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 18.54
Oversold
Williams' Percentage Range (W%R) 89.90
Oversold
Lane's Stochastic (%D-Slow) 8.77
Strong Oversold
Greed/Fear Indicator (GFI) 17.52
Oversold
Moving Average Converg./Diverg. (MACD) -0.21
Trading Signals
Description Value Chart
Upper Bollinger Band 83.44
50 Day Moving Average 82.20
20 Day Moving Average 79.46
Weekly Trendline Resistance 79.21
Parabolic System 77.94
Daily Stochastic Crossing 75.69
Weekly Stochastic Crossing 75.04
Lower Bollinger Band 74.83
Price 74.26
Weekly Trendline Support 74.03
Quarterly Trendline Support 72.74
Sector and Industry
Description Name Rank
Sector Consumer Staples 7
Industry Agricultural Products 1
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 79.35
High Date 03/14/2023
Low 73.98
Low Date 03/17/2023
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Test Support
Resistance 79.21
Support 74.03
High 89.32
High Date 01/17/2023
Low 73.98
Low Date 03/17/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 96.16
High Date 12/27/2022
Low 73.98
Low Date 03/17/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Test Support
Resistance 92.82
Support 72.74
High 98.28
High Date 11/04/2022
Low 73.98
Low Date 03/17/2023
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 28.92
Low Date 03/23/2020
High 98.88
High Date 04/21/2022
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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