Bullish on ADM
By Johns Wu on Jun 04, 2006
ADM, Archer-Daniels-Midland Co, has been popping up on my scans for months, but I never actually checked it out until today.
The chart looks amazing, and signals extreme institutional demand for the stock. There are 2 low-risk entry points for ADM. One would be to buy the breakout to new highs. The other would be to buy on the retrace to the uptrending support.
Another thing I like about ADM is that they are tapping into the EXTREMELY LUCRATIVE alternative energy market by ramping up production of ethanol. I have a feeling that ethanol is going to be hot this summer, so be sure to watch the ethanol IPOs that are going down in the next few months.
This entry was posted on Sunday, June 4th, 2006 at 6:58 pm and is filed under Annotated Analysis.
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we’ve had a BUY since it was at $30. price target = $50
http://energy.seekingalpha.com/article/6358