Friday, July 6, 2007

Update ADM DVR

DVR 60 min chart - 6 weeks

ADM 60 min chart - 4 weeks
Seemingly, both of these stocks are breaking out over previous highs, with DVR moving to a new 52-week high and ADM breaking out of its previous 3 week trading range. Most likely, this is an extension of the current oil rally coupled with DVR's undervalued fundamentals. Some caution should be noted as ADM is moving towards its 200 DMA as well as resistance in the $34.90 range.

1 comment:

share said...

Hi,

Once again after crash Nifty has started going up. Now we suggest all rises should be used as an opportunity to exit old long positions.
This bull run will continue for few more days. Overall market is in bearish mood as in medium term its just a small rally due to short covering
and result season.


Happy Trading,

ShareGyan