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.
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.