Archer Daniels (ADM) – Bullish DailyPlay for Friday July 6th, 2018

The bullish DailyPlay we chose for Friday, July 6th is Archer Daniels (ADM). ADM is part of the Consumer Staples Sector (XLP). Over the last month, XLP has experienced a 4.45% move higher and its 1m/6m trend has turned bullish on 6/6 and recently bounced higher off its $51 support level.

Archer Daniel’s 1m and 6m trends turned bullish yesterday and recently bounced higher off its $45 support level. With a technical score of 8 (out of 10), ADM is a strong bullish stock that will likely continue higher.

View this Trade Idea on ADM

As a stop loss, if ADM was to trade below $45 for multiple days, this would invalidate our analysis and suggest getting out of the trade.