Archer Daniels Midland stock saw a welcome improvement to its Relative Strength (RS) Rating on Friday, rising from 68 to 71.
As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength.
This proprietary rating identifies market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the last 52 weeks matched up against all other stocks.
History shows that the best stocks typically have an RS Rating north of 80 in the early stages of their moves. See if Archer Daniels Midland stock can continue to show renewed price strength and clear that threshold.
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Is Archer Daniels Midland Stock A Buy?
Archer Daniels Midland stock is working on a flat base with a 98.38 entry. See if it can break out in volume at least 40% higher than normal. Keep in mind that it's a later-stage consolidation, and those entail more risk.
Top and bottom line growth moved higher last quarter. Earnings were up 92%, compared to 62% in the prior report. Revenue increased from 19% to 21%. Look for the next report on or around Jan. 26.
Archer Daniels Midland stock earns the No. 1 rank among its peers in the Food-Grain & Related industry group.
