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.

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