Archer-Daniels-Midland (ADM) is a company with more name recognition on Kansas Ave. in Topeka than on Wall Street in New York, but it has a promising-looking chart that more investors should take notice of -- regardless of where they live.
In this daily chart of ADM, above, we can see that it made a low in January and then a successful retest in February. Prices are above the 50-day Simple Moving Average line, and the slope is pointed up. Prices have recently tested the 200-day average line. The On-Balance-Volume (OBV) line has turned up from a January low. The Moving Average Convergence Divergence (MACD) oscillator is above the zero line.
Stepping back a bit for a longer-term view, we like the developments on this weekly chart of ADM, above. Here we can see ADM testing the declining, 40-week moving average line. The OBV line on this time frame has been steady since November. The MACD oscillator generated a cover-shorts buy signal and is moving up to the zero line for an outright go-long signal. Traders could go long ADM with a $36 sell stop.