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Charts courtesy of stockcharts.com

Thursday, May 10, 2012

ADM

ADM looked better on the Finviz chart this morning, but looking at the stockcharts chart, I see that a) the price relative line, until about two weeks ago, was quite weak, and b) it's not actually a breakout. However, a little pivot ;point analysis proved interesting: the bottom pivot is pretty obvious, the middle one a little debatable but  I believe correct, which projects a top end about 32.85, just barely below the high of the day. It will be interesting to see what this does next, but I am already watching so many charts, I may not get to this one,

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